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BitMEX has a new CEO – That's what it's all about

 


The bitcoin exchange BitMEX is not quiet . The company, which was once one of the pioneers in trading cryptocurrencies, has encountered some problems in the past. So there were not only millions in fines, but also probation for the founders at the time .


In these difficult times, Alexander Höptner then took over the helm of the ailing company in order to restore it to its former strength. Höptner was particularly successful in turning compliance around, which ultimately led to the downfall of BitMEX.


Why the resignation?

But that is precisely why the question arises as to why the resignation came about. In fact, there is no significant evidence of this so far, except that a lot of capable people are currently leaving the crypto scene, mostly to settle back in the financial sector. Meanwhile, the new CEO of BitMEX will be former CFO Stephan Lutz.


But instead of believing that many are leaving a sinking ship, one question is more justified, namely why Höptner is leaving this ship. The EX-CEO only came to BitMEX in January 2021 and of course had a difficult start there. But shouldn't the company be doing better right now?


The problem of crypto exchanges

In fact, things are not looking so good for most crypto exchanges, trading margin percentages mean trading venues have low results while fixed costs are high. This is due to low trading volumes due to falling interest in cryptocurrencies compared to the highs.


But not only these problems are driving BitMEX, but also the failed takeover of Bankhaus von der Heydt , in the course of which 75 employees out of a total of 300 at BitMEX were laid off. Whether Höptner's resignation is due to personal reasons or because of the continued turbulent waters for BitMEX will only become clear in the next few days.

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