11-28-2022 icon

AAX administrative exits company amid current service suspension

By Lucy Adegbe

A couple of weeks after AAX trading protocol suspended outgoing payment transactions, its deputy chair in worldwide commerce and communication published his resignation from that position at the trading firm.

According to a series of tweets posted by Ben Caselin, his decision to exit the company was encouraged by his “hollow” position as the company’s deputy chair in communication.

Notwithstanding the persistent attempt to defend the protocol, they still went ahead to introduce an improper initiative, Caselin noted.

Highlighting further justification for his resignation, the ex-AAX administrative buttressed his disapproval of the pattern employed by AAX to deal with problems. Caselin characterized the activities of the trading protocol as “overly opaque” and lacking “empathy.”

Amid the halt in outgoing payments, the ex-administrative added that different parties, inclusive of relatives, have sought his assistance. Nonetheless, Caselin published that everyone may need to await motions from the protocol. 

Given his complaints about AAX, Caselin stated with assurance that the trading protocol will deal with all situations without selfish motives, although harm has been done. “ The brand is no more and the trust is broken,” he tweeted.

On November 14, AAX suspended all outgoing payment transactions, citing with assurance that the move is unrelated to the FTX crisis as it had no economic exposure to the bankrupt protocol. 

AAX followed this announcement with explanations that it may require added finances for operation as customers are making moves to take out their funds due to panic related to the recent FTX issue.