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

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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Tanzeel Akhtar

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.