Questions have been raised in the TenX community following the controversial departure of Julian Hosp as President of the cryptocurrency payment platform. Two days ago, Hosp announced in an emotional video on his YouTube channel that he will leave TenX.
Hosp didn't give any reason for his departure, only stating that he 'it was the hardest decision of his life' and that he will 'take a few weeks off to recapture'. 'Short video, not much more, I can't tell you when I'll post the next video on here... Have a good one.'
Shortly after the announcement of Hosp, rumors were spread on Reddit that the now ex-co-founder sold 2.2 million PAY on Bittrex, the TenX token, prior to his departure. Recently, Hosp was also linked to Lyoness, a company accussed of running a Ponzi scheme.
With rumors of him selling 2.2 million PAY tokens, Hosp took to Twitter to inform the community that the decision of him leaving was made only three days before the announcement.
I might be repeating myself, still I want to highlight again that the decision to step down as the president of TenX as mentioned in my announcement was made in the past 3 days only. I am sad to read random speculations that try to combine false facts to make a story out of it.— Dr. Julian Hosp (@julianhosp) January 9, 2019
Yes, totally agree. I am ok with speculations, but some accussations are crossing the line.— Dr. Julian Hosp (@julianhosp) January 9, 2019
Now TenX has released a statement answering 'the most pressing questions' from the community. The project states that Hosp's departure was a mutual agreement between all the co-founders. TenX also addresses the rumors of insider trading by Hosp.
'TenX has trading policies that apply to all employees, with more stringent standards for senior and executives. This requires them, among other things, to notify the board of directors prior to any trading of PAY tokens', the project states.
'No notification received'
'No such notification was received in the weeks leading up to and subsequent to the the date of announcement of the TenX Token (the “Announcement Date”). All entities within the TenX Group did not participate in any trading of PAY tokens after 21 December 2018.'
'We are unable to provide any comments on the transfer and alleged trading of PAY tokens potentially undertaken by current and former employees of TenX. We note that the transfers and alleged trading took place on dates after the Announcement Date, and such alleged trades, would have been made on publicly available information.'
Furthermore, TenX states that 'we can assure you that our plans for 2019 remain the same and we continue towards them, determined and committed as ever.' The project is working on a crypto debit/prepaid card, of which 'more than 20 cards have been shipped in our first batch. We are now ramping up with our second batch.'
Been looking at this whole @tenxwallet crisis with @julianhosp stepping down at president. Honestly pretty shady - No reason was given for him parting ways and zero transparency other than an emotional outburst. I want to support you @julianhosp, but tell us really whats going on— boxmining (@boxmining) January 11, 2019