<p>The Chief Executive Officer of BitMEX, <a href=”https://www.financemagnates.com/executives/moves/bitmex-parent-hires-borse-stuttgarts-alexander-hoptner-as-new-ceo/” target=”_blank”>Alexander Höptner</a>, has stepped down from the apex role just short of a couple of years, The Block reported. The existing CFO, Stephan Lutz has already taken over as the Interim CEO of the crypto company.</p><p><a href=”https://www.financemagnates.com/executives/moves/stephan-lutz-will-join-100x-group-as-its-new-chief-financial-officer/” target=”_blank”>Lutz</a>, who joined the crypto exchange in March 2021, will continue to serve as the CFO of 100X.</p><p>“Together with the rest of the management team and our talented staff members, I will make sure that BitMex continues to deliver great, innovative crypto trading products and a secure and stable trading environment for our clients,” Lutz stated in an emailed statement to the crypto-focused publication.</p><p>However, the <a href=”https://www.financemagnates.com/terms/e/exchange/” target=”_blank” id=”b5da6e64-2afe-421d-9b81-16404b7d59d6_2″ class=”terms__main-term”>exchange</a> did not reveal the reason behind the exit of Höptner. He was appointed to the role in January 2021, replacing the interim CEO, Vivien Khoo. He became a full-time CEO after the exchange’s Co-Founder, <a href=”https://www.financemagnates.com/cryptocurrency/news/bitmex-co-founders-step-down-from-management-roles/” target=”_blank”>Arthur Hayes stepped down</a> following criminal charges against him.</p><p>Höptner is an industry expert who previously was the CEO of Börse Stuttgart GmbH and Euwax AG. On top of that, he helped establish Bison, a crypto trading subsidiary of Börse Stuttgart.</p><p>Moreover, Lutz has almost two decades of experience working in the financial industry. Previously, he worked for PriceWaterhouseCoopers, Deutsche Börse, Dresdner Bank and a couple of other firms.</p><p>A Crypto Derivatives Giant</p><p>BitMEX was established in 2014, offering cryptocurrency derivatives to retail investors. The exchange dominated the market for a few years until it was slapped with a series of lawsuits. </p><p>The exchange <a href=”https://www.financemagnates.com/cryptocurrency/exchange/bitmex-settles-with-us-cftc-and-fincen-agrees-to-pay-100-million/” target=”_blank”>settled charges</a> with <a href=”https://www.financemagnates.com/terms/c/cftc/” target=”_blank” id=”b5ae3af7-f418-4c65-9082-0c34b44bd668_1″ class=”terms__secondary-term”>CFTC</a> and FinCEN, paying $100 million. Hayes, along with the co-founders, pled guilty to the charges. Each of the co-founders has been ordered to pay $10 million each, while Hayes is facing an additional <a href=”https://www.financemagnates.com/cryptocurrency/news/founder-of-crypto-derivatives-platform-sentenced-to-6-months-of-home-detention/” target=”_blank”>six-month home detention</a>.</p><p>Meanwhile, BitMEX is focused on expansion. It launched spot trading services earlier this year and is eyeing European expansion, gaining a regulatory license in Italy.</p>
This article was written by Arnab Shome at www.financemagnates.com.
