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TenX responds to community backlash, misses the point

TenX responds to community backlash, misses the point

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by COINS NEWS 28 Views

Hello all, I am the author of the recent post regarding the speculation of Julian's PAY tokens.

TenX has responded with a statement (tweet) which I feel misses the point and concerns of the community.Read the statement carefully.

1." TenX has trading policies that apply to executive-level employees. This requires them, among other things, to notify the board of directors prior to any trading of PAY tokens.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”)."

The announcement date was on 11th Dec. No one is talking about what happened before or around 11th Dec. They are talking about a completely different event.

  1. " All entities within the TenX Group did not participate in any trading of PAY tokens after 21 December 2018. "

"Entity" can be misleading legal term. To the layman, you would think that "all entities within the TenX Group" is a catch-all that would refer to all employees. This is NOT the case. Entities would be their distinct businesses, such as their subsidiaries, overseas units and entities like CoBloX. They have talked about their restructuring before here and here.

  1. " We are unable to provide any comments on the transfer and alleged trading of PAY tokens potentially undertaken by an ex-employee of TenX. "

As Julian is now an ex-employee, so they are unable to comment specifically about him.

  1. "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. "

They acknowledge that the transactions did happen, but are making the case that it would be a non-issue since such information is public.

OP notes:

1+2+3+4 = TenX thinks people are concerned if there were any insider trading activity regarding the TenX Token announcement on the 11th. Nobody is even thinking or talking about this. They are (mis)directing you to a non-issue.

Rather, they are missing or deflecting from the point that the evidence provided is concerned about an ex-employee allegedly dumping 2.2M tokens on the open secondary markets.

There is only one question everyone wants answered: Did Julian Hosp sell 2.2M tokens on Bittrex?

Edit: Formatting

submitted by /u/gmgh-
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