BitMEX parent company appoints Alexander Höptner as new CEO

TL:DR Breakdown:

• 100x Group, the BitMEX parent company, has appointed Alexander Höptner as the new CEO.
• Höptner will spearhead the expansion of digital financial services on BitMEX.

BitMEX parent company, 100x Group, announced that Alexander Höptner has been appointed to serve as the company’s new chief executive officer (CEO). The company owns and operates the leading cryptocurrency exchange, BitMEX. Höptner is joining the company from a German exchange. He will assume the position by next year, replacing Vivien Khoo, who is presently serving as the interim CEO of 100x Group.

100x Group plans to pursue more digital financial services with new CEO

According to the announcement today, the BitMEX parent company is looking to expand its digital financial services through the appointment of Höptner. 100x Group intends to achieve this goal through the enhancement and investment in BitMEX. Since 2018, Höptner worked at the German exchange, Börse Stuttgart GmbH and Euwax AG, where he bagged rich experience being as a chief executive officer. 

The newly appointed CEO for BitMEX parent company said he shares the same ambition with the founding executives of both companies to improve lives through the creation of a regulated ecosystem for cryptocurrencies. Höptner explained that the future of the crypto industry would belong to regulated trading platforms with liquidity, innovation, and fairness for both the retail and institutional users.

Meanwhile, Höptner will take over from Vivien Khoo when he joins the 100x Group Board of Directors by January 2021. Khoo’s appointment as the interim CEO came amid the recent charges from the US regulators, which led to the shake-off of some executive at BitMEX parent company and the exchange itself.

BitMEX parent company dismissed the exchange’s staff over US charges

Earlier in October, the exchange was charged by the US regulators for illegal operations, including money laundering. This brought mayhem for the exchange as there was a notable outflow of assets, especially Bitcoin, witnessed through these times. Given the involvement of former BitMEX CEO Arthur Hayes and other executives in the charges, the parent company dismissed them from their positions.

At the time, 100x Group appointed its COO, Vivien Khoo, to serve as an interim CEO of the exchange.