BitMEX has a new CEO. 100x Group, the holding group for BitMEX’s parent company HDR Global Trading Limited, announced the appointment of Alexander Hoptner to lead the embattled digital currency exchange.
In a blog post, BitMEX stated that Hoptner’s appointment will be geared towards “shaping the evolution of digital financial services through strategic investments, innovation, and enhancement of the BitMEX platform.”
Hoptner will join the exchange in January 2021 to take over from Vivien Khoo who has been serving as the interim CEO since Arthur Hayes stepped down in October.
Hoptner joins the exchange after two decades in the German stock exchange industry. Most recently, he served as the CEO of Börse Stuttgart GmbH, Germany’s second-largest stock exchange. Under his leadership, the exchange pioneered digital currency trading, becoming Europe’s first stock exchange to offer digital currency trading.
Hoptner has also served in an executive role with Deutsche Börse AG, Germany’s largest exchange.
He remarked, “The future of this industry will increasingly belong to those who provide a regulated trading environment that is innovative, liquid, and fair for institutional and retail investors alike. I will ensure 100x Group and the BitMEX platform will continue to play a leading, constructive role in the global development of digital asset markets.”
While Hoptner’s remarks point to the need for regulations in the industry, his predecessor wasn’t as keen. Arthur Hayes resigned as the BitMEX chief in early October, just days after U.S prosecutors indicted him and his fellow co-founders. CTO Samuel Reed, co-founder Ben Delo and Greg Dwyer, the head of business development also stepped down from their roles.
Since then, the exchange has implemented changes and hired in key positions as it fights to save its reputation, maybe a little too late. As it reported, the exchange hired Malcom Wright as the chief compliance officer in October. Just as with the most recent hiring of Hoptner, Wright was also a leader in his field, serving as the chief compliance officer at U.K. banking unicorn Revolut.
BitMEX also moved the deadline of its user verification program from February 2021 to November 5. The program requires all BitMEX users to verify their identities; with the exchange threatening users that failure to adhere by December 4th would see them lose the ability to withdraw their funds.