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News

Crypto Exchange AAX Actively Raised Capital To Reopen

November 16, 2022 - Around 2 mins mins to read
The Hong Kong exchange warned Tuesday that whether or not AAX reopens by the end of this week depends on whether the exchange gets additional cash; if that fails, the corporation could have to turn to litigation.
Crypto Exchange AAX Actively Raised Capital To Reopen

As Coincu reported on Sunday, the exchange said it had to manually verify customer balances due to the failure of an unnamed “third-party partner” before it could make any payouts but has denied having exposure to FTX.

In a statement released Tuesday, AAX claimed 2,000 consumers had asked for withdrawals using a temporary system set up during the break and that repaying deposits would take longer due to human processes.

The company is now rushing to raise additional capital from its network and within the industry, according to a statement posted on the company website:

“We will continue to work tirelessly to bring in more capital from within our network and across the industry. If we are able to inject additional capital by the end of this week, AAX should be able to resume services as usual. This will be announced along with follow-up plans to get back our momentum.”

It seems that the exchange’s customers are still waiting anxiously.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Crypto Exchange AAX Actively Raised Capital To Reopen

The Hong Kong exchange warned Tuesday that whether or not AAX reopens by the end of this week depends on whether the exchange gets additional cash; if that fails, the corporation could have to turn to litigation.
Crypto Exchange AAX Actively Raised Capital To Reopen

As Coincu reported on Sunday, the exchange said it had to manually verify customer balances due to the failure of an unnamed “third-party partner” before it could make any payouts but has denied having exposure to FTX.

In a statement released Tuesday, AAX claimed 2,000 consumers had asked for withdrawals using a temporary system set up during the break and that repaying deposits would take longer due to human processes.

The company is now rushing to raise additional capital from its network and within the industry, according to a statement posted on the company website:

“We will continue to work tirelessly to bring in more capital from within our network and across the industry. If we are able to inject additional capital by the end of this week, AAX should be able to resume services as usual. This will be announced along with follow-up plans to get back our momentum.”

It seems that the exchange’s customers are still waiting anxiously.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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