BitcoinBusiness

BitMEX CEO and CTO Step Down With Immediate Effect Following CFTC Charges

100x Group, holding company of embattled crypto derivatives exchange BitMEX operator HDR Global Trading Limited, has announced the replacement of CEO Arthur Hayes,  following CTFC charges of money laundering and illegally operating an unlicensed exchange.

Within a blog post issued earlier today, BitMEX's parent company noted that Hayes's removal comes with the "full approval" of the founders.

Stepping in for Hayes is Vivien Khoo, currently the Chief Operating Officer of 100x Group. Khoo will assume the position of interim CEO, along with her existing operational responsibilities.  Co-founder and chief technology officer, Samuel reed, arrested last week on charges of violating the bank secrecy act, will also be standing down.

"Founders Arthur Hayes and Samuel Reed have stepped back from all executive management responsibilities for their respective CEO and CTO roles with immediate effect. With fellow Founder Ben Delo, they will not hold executive positions in the 100x Group," reads the post. 

The 100x Group concluded that it's "business as usual," going forward.  

This story is breaking and will be updated in due course.

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Will is a freelance journalist and copywriter based in London. He's covered the crypto industry in various roles for several years after becoming enamored with the space in 2014. He has bylines in various cryptocurrency magazines such as Decrypt and CoinTelegraph.