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BitMEX Holding Company Appoints New CEO

100x Group, holding company of embattled crypto derivatives exchange BitMEX's operator HDR Global Trading Limited, has announced the appointment of a new CEO following CFTC charges against the exchange in October, which had triggered the immediate replacement of former CEO Arthur Hayes and CTO Samuel Reed.

The new chief executive, Alexander Höptner, will take over from the firm's interim CEO Vivien Khoo in January 2021.

Who Is Alexander Höptner?

Following 15 years at Deutsche Börse AG and the establishment of two startups, Höptner worked as CEO at Boerse Stuttgart before his departure from the German finance giant was made public four days ago. In March of this year, Boerse Stuttgart had extended Höptner's contract by another four years.

Höptner had been a driving force in the company's venture into digitization and tokenization. Under his leadership, Boerse Stuttgart became the first regulated trading venue for digital assets in Germany. In an interview with German site Horvath & Partners this year, Höptner discussed the development of a regulated infrastructure for digital asset trading, noting that "these solutions don't target "blockchain rebels" that will always use their own blockchain, but the remaining 99.9% of the world."

With the new appointment, it appears BitMEX is looking to adopt a more compliant tone.

No Word from Hayes Since CFTC Charges

Höptner is to replace Arthur Hayes as the group's chief executive. Hayes stepped down with immediate effect following CFTC charges of anti-money laundering violations, while BitMEX CTO Samuel Reed had been arrested in Massachusetts before being released on a $5 million bail.

Since the charges have been made public, Hayes has not commented publicly, nor been active on his social media.

Following news of the CFTC charges, users rushed to withdraw nearly 40,000 bitcoin from the exchange.

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Thomas is a journalist at the BTC Times. He enjoys writing about Bitcoin, learning about Bitcoin, and HODLing bitcoin.