2019 began with a sad mood for the TenX community after the sudden announcement of the departure of Julian Hosp, now former President of the company.
According to an announcement issued by TenX on its social networks, Toby Hoenisch will take over the leadership of the business with no one by his side, a decision that took many by surprise, even among the most loyal members within the community.
The decision was peaceful and agreed upon, and came after several meetings that allowed them to reach a series of essential agreements at the executive team level. TenX thanked Hosp for all the work done “paving the way towards further success for TenX in the years to come.”
TenX Community Has a Lot of Questions Yet to Be Answered
The ambiguity of the announcement left many questions unanswered, and Hosp’s lack of a solid declaration explaining in depth the reasons for this drastic turn of events led many users to speculate about the causes of the dismissal.
It is important to note that Hosp was recently linked to Lyoness, a company that was denounced in various countries for developing a Ponzi scheme. This recent news was associated by many users to the cause behind Mr. Hosp’s dismissal.
Likewise, in addition to the dark past of its President, the constant failure to meet its objective of delivering a crypto-compatible credit card has somewhat tarnished the credibility of the project. Several people within the community also mention this as a potential cause.
Everything Will Be Alright
However, Julian Hosp subsequently addressed his followers, explaining that the decision could have been due to an incompatibility of opinions among the board members. Hosp said it was one of the most difficult decisions he has ever had to make, emphasizing his deep appreciation and optimism for the project:
“While we were planning 2019 and beyond, it became clear to us as Founders that the only way forward is to mutually part ways. And that means that I will be stepping down as the President of TenX. It was one of the hardest decisions of my life…
I can only wish my team the best for the future. They are full of rock stars, and I think they are going to do well.”
Hosp commented that after his departure he would take a short vacation, not offering any further details about his plans for the future (in case he has any).
In the face of the wave of speculation and controversy, both parties addressed the public clarifying certain points.
Julian Hosp explained that his departure was peaceful and did not take more than three days to make it.
Meanwhile, the TenX team announced that they will conduct a Q&A next week, clarifying the community’s questions.
After Hosp’s announcement, TenX’s token (PAY) has suffered a sharp decline, going from a a stability zone between 0.20 – 0.22 USD to a price under 0.16 USD according to data provided by coinpricewatch