Chief Executive Officer of BitMEX, Alexander Höptner, has stepped down from the apex role in less than a couple of years, The Block reported. Existing CFO Stephan Lutz took over as Interim CEO of the crypto company.

Lutz, who joined the crypto exchange in March 2021, will also continue to serve as the CFO of 100X.

“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.

However, the exchange did not reveal the reason behind the exit of Höptner. He was appointed to the role in January 2021, replacing then interim CEO Vivien Khoo. He became a full-time CEO after the exchange’s co-founder Arthur Hayes stepped down following criminal charges against him.

Höptner is an industry expert who previously was the CEO of Börse Stuttgart GmbH and Euwax AG. He also helped establish Bison, a crypto trading subsidiary of Börse Stuttgart.

Lutz also has almost two decades of experience working in the financial industry. He previously worked for PriceWaterhouseCoopers, Deutsche Börse, Dresdner Bank, and a couple of other firms.

A Crypto Derivatives Giant

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.

The exchange settled charges with CFTC and FinCEN, paying $100 million. Hayes, along with co-founders, pled guilty to the charges. Each of the co-founders has been ordered to pay $10 million each, while Hayes is also facing six-month home detention.

Meanwhile, BitMEX is focused on expansion. It launched spot trading services earlier this year and is also eyeing European expansion, gaining a regulatory license in Italy.

This article was written by Arnab Shome at www.financemagnates.com.CryptoCurrency, NewsRead More

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