Dr. Julian Hosp, the Co-Founder, President and public face of TenX, has left the company, as confirmed to e27. TenX said this was a mutual decision made by the executive team.

In an emotional video posted on YouTube, Hosp wished the team the best for the future.

“While we were planning [for] 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,” he said.

Hosp said he will be taking a few weeks off to move forward.

“I want to thank you all for the support, for having been there during good, during hard times; on this journey. There is definitely more to come,” he concluded.

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As of today, TenX CEO Toby Hoenisch will be taking charge of the business direction.

“We have received a tremendous amount of community support under Julian’s leadership and want to thank him for paving the way towards further success for TenX in the years to come,” he said in a statement.

During his time, Hosp was positioned as the public face of TenX — taking press interviews, offering commentary and promoting the company to the general public.

However, he has recently come under scrutiny from the crypto blogosphere for his previous affiliation with Lyoness, an Austrian pyramid company.

TenX took to Reddit to acknowledge the past relationship, support Hosp and make the case that it had no bearing on TenX.

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TenX was founded in 2015 with the goal of building a credit/debit card which can be used offline and across various cryptocurrencies. In June of 2017, the Singapore-based startup raised US$80 million in a token sale to build the card. As of publishing, it has not been released.