This is a major milestone in the case, reflecting that our arguments are strong, ample substantiated evidence is in place (also thanks to the many participants that have contributed!), and everything has been thoroughly reviewed and verified. The actual court proceedings are expected to commence in Q2 next year. We are looking forward to the next steps.

Meeting where we discussed our complaints and suggested solutions to solve this dispute. Unfortunately, BUX is not willing to discuss any sort of compensation.

Message from BUX

Due to the termination of all BUX Crypto services on March 19, 2024, BUX Alternative Investments BV will also discontinue the BUX Token utility on March 19, 2024. The BUX Token utility refers to the waiving of cryptocurrency trading commissions for users with at least 1,000 BUX Tokens in the BUX app.

After March 19, 2024, all crypto services will be removed from the BUX app, including the BUX Tokens. As a gesture of goodwill, BUX will grant every user that holds at least 1,000 BUX Tokens in the BUX app as of December 18, 2023, a twelve-month waiver of the monthly service fees at the BUX shares/ETF platform, amounting to €2,99 per month. This waiver will go in effect in April, 2024.

If you want to withdraw the BUX Tokens from the BUX app to your own on-chain wallet, you need to arrange this by providing BUX customer support (support@bux.com) via email with your BUX Token wallet address before March 1, 2024.

BUX is being sold to ABN Amro. It will announce details about a transfer of the crypto business to a “trusted third party.”

Based on detailed information provided by participants.

Meeting between Steven Deurloo representing 40 BUX Token Holders, BUX lawyers from Osborne Clark, and BUX, represented by CEO Yorick Naeff and CFO Egbert Pronk.

Disappointing meeting as no progress was made. BUX repeated its earlier statement to be working on an evaluation indicating that this could take several months.

Meeting between four BUX Token holders and BUX, represented by CEO Yorick Naeff and CFO Egbert Pronk.

BUX repeated its previous statement to be working on an evaluation. No further details about this evaluation were provided other than saying that they also explore termination of the BUX Token.

Message from BUX on October 4, 2023:

We would like to provide you with an update on the BUX Token. As we previously communicated, the BUX Token has been delisted from KuCoin as of the 22nd of September, 2023. Therefore, it remains not tradable on the BUX app.

We are still in the process of evaluating the situation and determining next steps. Once we have more details, we'll update you through email. We appreciate your patience.

Although BUX Token is no longer tradable be on the BUX app, it will remain on the BUX platform until further notice. The purpose of BUX Token is to act as a utility for our users engaged in cryptocurrency trading. The commission for orders in cryptocurrencies is still waived for the clients holding 1000 or more BUX Tokens in their BUX account.

Message by BUX:

KuCoin is the crypto exchange where the BUX Token is originally listed. BUX forwards orders in the BUX Token to KuCoin exchange where the orders get executed. KuCoin has tagged the BUX Token with a special treatment tag today. Based on our understanding, this implies that BUX Token is under review to remain listed on KuCoin. Our team has reached out to KuCoin to discuss the requirements. However, historically speaking, there is a fair chance that KuCoin will one-sidedly decide to delist the BUX Token. This can have an impact on the tradability of the BUX Token, also in the BUX app. Because of this recent development, we have switched the BUX Token to sell-only until further notice.

Message from BUX:

KuCoin has proceeded to disable BUX’s trading functionality for BUX Token and therefore we can no longer facilitate trading and process orders. Our team is still in dialogue with KuCoin, hoping to reach an agreement that would allow us to resume trading in the BUX Token. This effectively means that users will no longer be able to buy or sell BUX Tokens from the BUX app until further notice.