WWE reportedly let Cain Velasquez go according to Dave Meltzer on The Wrestling Observer. Cain was signed to a "big contract" and got cut whenever WWE decided not to use him since Crown Jewel on October 31st 2019.

He was under a multi-year deal with WWE. There's no word by WWE why he he has been let go, but apparently he got released due to recent coronavirus related budget cuts.  He was being set to wrestle his second match at a WWE live event in Mexico City in November of last year, but he was pulled, and the speculation was that he was pulled due to issues with his knee.

Cain made his pro wrestling debut last August at AAA's TripleMania XXVII event, then he would go on to work another event by AAA in NYC in September.