The executive of the cryptocurrency exchange confirmed his resignation. However, investors seem to be starting to question why he left. cryptocoin.comAs we, we inform you about the developments about the cryptocurrency exchange.
Cryptocurrency exchange’s vice president of communications resigns
In the past weeks, the AAX exchange has decided to stop withdrawals. After the decision, the vice president of global marketing and communications announced that he resigned from his position in the stock market. Former executive Ben Caselin confirmed his departure from the company via his Twitter account. He also explained why he decided to leave his post at the crypto exchange.
Caselin states that despite his efforts to fight for the community, the initiatives he planned were not accepted. The manager said his role in communications was “empty”:
Dear people, it is true that I have resigned from AAX. I strived for the community, but unfortunately none of the initiatives we put forward were accepted. All the steps I took in terms of communication were hollow. I couldn’t find any role.
Dear all, it’s true I have resigned from AAX. I did fight for the community but none of the initiatives we came up with were accepted. Any role I had left for communication became hollow.
1/4
— ₿en Caselin HODL (@BenCaselin) November 28, 2022
The former AAX executive says he disagrees with AAX’s handling of general issues. Caselin states that the steps taken were “unempathetic” and “overly closed.”
Caselin said the trust is completely gone
In the middle of the pause, the former manager states that many people, including some of his family, have requested support from him. However, Caselin said there was nothing he could do for the time being. In addition, Caselin states that everyone involved in the stock market must act quickly.
The former AAX executive believes things can work out despite the current situation. However, he explained that it was too late for these and that it had already damaged the stock market:
There is no brand anymore and trust is completely gone.
On November 14, AAX exchange reported that they had a glitch in the system upgrade. As a result, the reason for the correction was put forward and the withdrawals were suspended. The exchange told its community that it had nothing to do with the ongoing FTX crisis in withdrawals. He reassured users on the exchange in general that they were not exposed to FTX:
People, including my own family, are asking me for help. But there is nothing I can do. Everyone is waiting to take action. In my personal opinion, I still believe things will be handled without malice, but the damage has already been done. There is no brand anymore and the trust is completely broken.
People, including my own family ask me for help, but there is nothing I can do. Everyone is waiting on actions. I still believe things will be handled without evil intentions, but the damage is done. The brand is no more and trust is broken.
3/4
— ₿en Caselin HODL (@BenCaselin) November 28, 2022
After the statements, the AAX team reminded that their investors decided to withdraw their funds from AAX due to the crisis in FTX. As a result, he underlined that they needed additional capital for these reasons. The cryptocurrency exchange states that this puts them at risk of a capital shortfall that they need to correct for their continued operations.
