BitMEX Plans to Add Spot Trading, Brokerage, Custody Services: Report

The crypto exchange's new CEO also said he aims to repair relationships with regulators.

AccessTimeIconMar 5, 2021 at 11:20 a.m. UTC
Updated Sep 14, 2021 at 12:21 p.m. UTC

Embattled cryptocurrency exchange BitMEX's new CEO said the firm is planning to add spot trading, brokerage and custody services to its offerings.

  • Alexander Höptner, who joined the exchange in December, said Thursday he is planning on transforming the exchange and expanding business operations by adding three new services, according to a Bloomberg report. 
  • Prior to joining the firm, Höptner worked for the German exchange Börse Stuttgart. In his new role, he plans to transform BitMEX by amending relationships with regulators and expanding business operations to spot trading and brokerage and custody services.
  • “I was coming from the regulated and classical world. I have a lot of touchpoints with the regulators already…Now I’m working on the crypto side and bringing the crypto side to the regulated world,” he said. 
  • BitMEX announced Thursday the appointment of auditing veteran Stephan Lutz as its new chief financial officer. Lutz will take charge of financial growth, business expansion and profitability.
  • In October, the U.S. Commodity Futures Trading Commission and federal prosecutors charged BitMEX with facilitating unregistered trading and other violations.
  • As reported by CoinDesk Wednesday, BitMEX founder and former CEO Arthur Hayes, who is currently in Singapore, could surrender to U.S. authorities next month.
  • Höptner declined to comment on the criminal charges against the BitMEX co-founders, according to CoinDesk.

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