Skeptic’s lens: TenX is flirting with securities, again

TenX raised $80 million in an ICO in June of 2017 with a vision to let users spend their cryptocurrency through conventional debit cards. But since raising an astronomical amount of money, TenX has struggled to fulfill its vision and the promises laid out in its white paper.

Nearly two years after conducting an ICO, the company is shipping cards to only five countries — Singapore, Australia, New Zealand, Hong Kong and Malaysia. For more than a year, TenX had no functioning card after Visa ended its relationship with debit card provider WaveCrest.