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Home Latest News Business Bitmex parent 100x appoints German stock exchange exec as new CEO

Bitmex parent 100x appoints German stock exchange exec as new CEO

Amid ongoing legal action from U.S. authorities, the company behind Bitmex, 100x, has announced a new CEO.

100x, the holding group for Bitmex’s parent company, has announced the appointment of a permanent new CEO in the wake of charges filed in October against the exchange’s co-founders, including former CEO of both 100x and Bitmex, Arthur Hayes.

On Dec. 1, 100x announced that the former chief executive officer of German stock exchange Borse Stuttgart GmbH, Alexander Hoptner, will take over as CEO in January 2021. 100x’s new CEO said:

“I am proud to join 100x Group because I share the global ambition and audacity of its founders and employees to create an ecosystem of cryptocurrency technology that will improve lives. 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.”

Hoptner takes over from 100x’s current interim-CEO, Vivien Khoo, who was promoted from chief operating officer on Oct. 8 as an emergency replacement for Hayes.

The Oct.1 charges from the United States Department of Justice and Commodity Futures Trading Commission accuse BitMEX’s founders Arthur Hayes, Ben Delo, Samuel Reed and Gregory Dwyer of violating U.S. money laundering laws and offering illegal derivatives products to American customers. 

Samuel Reed was arrested on Oct. 01 before being released the following week after posting a $5 million bond. None of the remaining accused have been apprehended by U.S. authorities. Hayes is anticipated to remain in Hong Kong. The territory suspended its extradition treaty with the United States in August.

This was reported by cointelegraph.com on Dec 01,2020.

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