BitMEX appoints German stock exchange veteran Alexander Höptner as the new CEO.

100x Group, the parent company of crypto derivatives exchange BitMEX, has hired a veteran of the German stock exchange world as its new chief executive.

According to the official announcement, the new CEO Alexander Höptner will pursue 100X’s” wider vision of shaping the evolution of digital financial services through strategic investments, innovation, and enhancement of the BitMEX platform.” Legal troubles have rattled the crypto derivatives exchange, and a shakeup of its top brass said on Monday that Alexander Höptner would take the reigns as CEO beginning January 1. Previously, Höptner held positions at Börse Stuttgart and Deutsche Börse AG. 

 

The interim CEO Vivien Khoo will now step down. 

With Alexander Höptner joining the board of directors soon, the interim CEO, Vivien Khoo will now step down. The CEO added that this industry’s future would increasingly belong to those who provide a regulated trading environment that is innovative, liquid, and fair for institutional and retail investors alike. While the company does badly need regulatory clarity after its recent run with the CFTC, it will be interesting to see how it will affect its users. Höptner led Euwax AG, which played a role in BISON’s build-out, which is a crypto trading subsidiary of Börse Stuttgart.

 

BitMEX faces legal trouble in the United States. 

As reported earlier, the hits keep coming for BitMEX. In addition to being indicted on criminal charges, founders Arthur Hayes, Ben Delo, and Samuel Reed are being sued in California for running a RICO (Racketeer Influenced and Corrupt Organizations Act) enterprise engaging in wire fraud, money laundering, interstate transportation of stolen property, digital asset market manipulation and racketeering. Other personnel associated with BitMEX and the alleged RICO scheme are also named as defendants in the lawsuit. The latest lawsuit is brought by Păun Gabriel-Razvan, a cryptocurrency trader and an owner of a crypto news aggregator.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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