BitMEX Nominates Stock Exchange Veteran Alexander Höptner as new CEO
Prominent cryptocurrency exchange BitMEX has announced its new CEO after a long legal battle with the legal authorities. Alexander Höptner will take the charge of CEO by January 1.
BitMEX’s parent company, known as 100x Group, has nominated Alexander Höptner, a veteran of the German crypto exchange, the new chief executive of the crypto derivatives exchange.
Prominent Name in Stock Exchanges’ Space
Höptner has experience of years in running traditional trading entities as he also remained a top-level official at Börse Stuttgart. Recently, he was offering his services at Euwax AG that assisted in the creation of digital assets subsidiary BISON known as Börse Stuttgart. According to 100x’s official announcement:
“The Börse Stuttgart exchange became a pioneer of digital asset trading under Alex’s leadership as Germany’s first regulated trading venue for cryptocurrency and the European Union’s first traditional exchange operator to become a regulated crypto multilateral trading facility.”
When the Department of Justice and the Commodities Futures Trading Commission took legal actions against BitMEX, Arthur Hayes, left the seat of CEO amid legal battles with the US authorities. After Hayers’s removal, the parent company appointed Vivien Khoo as interim CEO of the derivative exchange. From the start of the new year, Höptner will take the charge from Khoo.
BitMEX was once famous for providing high liquidity in futures markets. According to on-chain reports, the exchange was holding 40% of the market share in open interest for futures, but now the figure has reduced to only 11%.
In his latest interview, the new CEO did not pass on a single comment over the legal battle between the exchange and the US authorities but he admitted that the trading volume reduced to a great extent. “And we have a little bit lost our edge, but I think the power and the capabilities of the company, they’re there,” he said.
Höptner made a strong commitment to making the BitMEX a regulated entity for derivative crypto products. What’s more, he even hinted at exploring new products.
When the parent company of the derivatives platform rebranded from HDR to 100x, the market analysts predicted new products besides crypto. In his interview, Höptner talked about the tokenization of derivative products and would launch tokenized “classic derivatives.” “We have classic derivatives and crypto derivatives. So far, nearly nobody globally has tapped into tokenization of classic derivatives,” he added.
In the cryptocurrency space, BitMEX is the only cryptocurrency entity that is largely attacked by the regulatory authorities of the United States.
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