After recently suspending all digital asset transactions, cryptocurrency exchange AAX has released a statement that it may resume operations. According to the employees of the stock exchange, this will happen in case of attracting additional capital.
“We believe that AAX has the potential to survive this incredibly difficult time for the entire cryptocurrency market, a time when not only our users are suffering, but the team and business as well. We want to restore the trust of our customers and fight to ensure that our crypto community feels protected, as well as confident that we will get out of a difficult situation," reads the press release of the cryptocurrency exchange.
If AAX manages to find new investors by the end of this week, it will be able to return to business as usual. If not, the exchange will initiate legal proceedings to ensure that the assets are distributed.
In a press release, representatives of the exchange emphasized that the collapse of the FTX crypto exchange did not lead to the compromise of assets, however, some of the AAX investors still wanted to withdraw their capital. This is what created additional risks for the crypto exchange, so AAX aims to cover the shortage of finance as soon as possible. The cryptocurrency exchange assured that the processing of customer withdrawal requests will begin as soon as the team resolves the issue.
Earlier, we talked about a recent study by Coinbase Research, where cryptocurrency experts predicted long-term problems for the industry that could reach 2023. Analysts suggest that market turbulence and a lack of large investors to invest in digital assets could prolong an already long cryptocurrency winter.
“We believe that AAX has the potential to survive this incredibly difficult time for the entire cryptocurrency market, a time when not only our users are suffering, but the team and business as well. We want to restore the trust of our customers and fight to ensure that our crypto community feels protected, as well as confident that we will get out of a difficult situation," reads the press release of the cryptocurrency exchange.
If AAX manages to find new investors by the end of this week, it will be able to return to business as usual. If not, the exchange will initiate legal proceedings to ensure that the assets are distributed.
In a press release, representatives of the exchange emphasized that the collapse of the FTX crypto exchange did not lead to the compromise of assets, however, some of the AAX investors still wanted to withdraw their capital. This is what created additional risks for the crypto exchange, so AAX aims to cover the shortage of finance as soon as possible. The cryptocurrency exchange assured that the processing of customer withdrawal requests will begin as soon as the team resolves the issue.
Earlier, we talked about a recent study by Coinbase Research, where cryptocurrency experts predicted long-term problems for the industry that could reach 2023. Analysts suggest that market turbulence and a lack of large investors to invest in digital assets could prolong an already long cryptocurrency winter.