Hey All,
I wanted to address the current Bittrex situation directly and transparently. The events leading up to today:
Exactly a week ago we received an email from an employee at Bittrex who requested us to fill out a large backfill document. She also request us to share and provide a number of other more exotic legal files. Some of which we have, some of which we do possess yet and would need to be drafted. She wanted it all within 5 working days.
Drafting legal documents takes time and should not be done lightly. Besides interacting with lawyers can sometimes be a lengthy process.
The employee explicitly requested a director of the business to fill it all out. Which would be either me or David.
As it happens, by the time I received the email I was already en-route to the US to attend several meetings and events across the country. Including, but not limited too, meeting Wachsman PR, Consensus Invest and the WSJ at their HQ. I only just return from Seattle where I'd visited the New Alchemy team. Point being, my schedule was planned out and packed to the brim. To expect to get a prompt response for such a large request is unreasonable.
Legal matters take time and require a coordinated effort, they also are often a part of company strategy this is why my finance and compliance team had made the decision to discuss matter in-person once I got back.
I return to the UK and to my surprise read the same as everyone else this morning.
I have reached out to Bill Shihara directly to ask for his oversight in the process, specifically I requested them to afford us an appropriate amount of time to get this all done.
This is the situation so far.
Looking back, I recall that at the start of this year we spent hours on calls with Bill and both of our legal teams. In discussions regarding our token listing and other legal/business matters the amount of time, professionalism and dedication shown has always been upstanding.
To have all that work rolled back in a few days, due to backfill issues, is unexpected and I'd like to think that Bittrex still strives to maintain it's original high standards.
Consider however that there might be external factors at play here that we are currently not aware of.
I like Bittrex it's founding team a lot, their focus on architecture and scaliblilty is industry leading. It would be a blow if TKN were to get delisted on Bittrex. I'll be working towards getting the decisions repealed. If it does happen however it is by no means the end of the world. New and greater listings will come with time: the space is always evolving.
Our project and roadmap remain unchanged.
Sincerely,
Mel Gelderman
Founder & CEO
Token
Edit: I do apologize for the inconvenience this has caused.
https://www.reddit.com/r/TokenCard/comments/7h32t9/the_bittrex_situation/
