Did Hosp sell 2.2M tokens before leaving TenX? TenX 'didn't receive notification'

11 Jan, 2019 | Updated: 11 Jan, 2019
by Jelmer van der Dussen
Did Hosp sell 2.2M tokens before leaving TenX? TenX 'didn't receive notification'

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.

Did TenX Ex-CoFounder Julian Hosp dump 2.22M of PAY tokens on Bittrex? from r/CryptoCurrency

Read more: TenX founder might be linked to a Pyramid 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.

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.'

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Read more about: TenX (PAY)


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