Tenx really excited me. Being able to convert crypto to fiat at the point of spending is very clever. I invested in the IPO and had every confidence that just the shear amount of money raised at that time would ensure their success and give them the depth to weather any storm. I never expected the business to have crystal clear waters and I think IPO investors would agree that we expected pushback from traditional banking.
To the credit of TENX they weathered the storm of crypto falling of a cliff shortly after the IPO and the significant impact of Julian’s exit and loosing their first card partner. I stayed committed to the project and even bought tokens on the way down.
When they relaunched with a new partner I thought long term they would be OK and shunned WIREX, MCO and others based on feedback here and other review websites. The quality of the support, committment to stringent requirements of KYC and doing it all in a timely manner was terrific and I think something Tenx could really hang their hat on.
Since the announcement on October 2nd I am not sure they can now make it back. Crypto followers are certainly an unforgiving bunch and I think they now have a real fight on their hands to regain trust and enrol new users.
The “Fight” needs to be led, and the deafening silence from Tenx in the past weeks has been astonishing. Social Media channels are unkept and it seems this time could have been better used to explain their side of the story and an opportunity for Toby to really step up. Is Wirecard’s position their fault?..No, well at least I don’t believe so…But with so many bright and talented people at Tenx and the experience of it happening before why are they not on the front foot here.
I don’t know whats going on at Tenx , we used to get transperancy reports and I think they would be well placed to publish their financials openly that were filed on the 5th of October. They don’t have to obviously…we arent shareholders…but wouldnt it stand as a way to build confidence in their brand?
If the leadership came out and said we are taking a paycut, we are invested in this project more than ever before and these our our challenges would that not inspire the community to stay on brand?
Without a card we have nothing but without leadership we face quick and certain failure.
We need to see you fighting TENX…Please fight…you need to be transerent, honest…tell us your stuggles and what your doing…Releasing things that you might consider sensitive or help your competition at this stage is just silly.
Step up Tenx.