AAX exec released the crypto exchange on the ongoing work stoppage – Rayrice Forex News

AAX exec released the crypto exchange on the ongoing work stoppage

Weeks after the AAX exchange began suspending its funds, the vice president of global marketing and communications has announced that he is stepping down from his role at the cryptocurrency exchange.

In a Twitter thread, Ben Casselin Confirmed He highlighted the reasons why he left the company and why he decided to leave his post at the crypto exchange. According to Kaselin, despite their efforts to fight for the community, their initiatives were not accepted. The executive described his role in communications as “empty”.

The former AAX executive also expressed disagreement over the way AAX handled the issue. Casselin described the exchange’s actions as “unsympathetic” and “extremely vague.”

Amid the interruption, the former executive highlighted that many people, including some of his family members, had sought help. However, Kaselin wrote that he can’t do anything at the moment and everyone is waiting for action from the exchange.

Despite the current situation, the former AAX executive believes that things will be handled without malicious intent, but he points out that the damage has already been done. “The brand no longer exists and trust is broken,” he said He wrote.

Related: Here’s how centralized exchanges look to recover users after FTX failure

In the year On November 14, the AAX exchange started suspending the withdrawal, citing the need to fix the problem with the system update. He assured the public that the exchange’s suspension had nothing to do with the FTX collapse and said he had no financial exposure to the troubled FTX exchange.

After the announcement, AAX Group highlighted the need for additional capital as investors decided to pull their money out of AAX due to the collapse of FTX. This puts them at risk of a lack of capital, which the exchange said will have to be fixed before resuming normal operations.

Cointelegraph has reached out to AAX’s PR team but has yet to receive a response.