Crypto Futures Exchange BitMEX CEO: Expect an Exchange Token ‘This Year’

The launch of BMEX was delayed because of market conditions, but the exchange’s CEO wants to get it launched before the end of 2022.

AccessTimeIconOct 2, 2022 at 12:51 p.m. UTC
Updated Oct 3, 2022 at 2:45 p.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

SINGAPORT — Crypto futures and spot exchange BitMEX is planning on launching its exchange token, BMEX, by the end of the year, its CEO said in an interview with CoinDesk at the Token2049 conference in Singapore.

“If you launch a token in a market which clearly is not at all at the bottom, then your token will be drained down with the general environment,” Alexander Hoeptner, the CEO of BitMEX, told CoinDesk.

The exchange announced in July that the token’s launch would be delayed due to market conditions.

“Although we are ready to list BMEX, the present market conditions are not ideal, and we want to list the token in an environment that gives it the best chance to reward you, its holders,” the company said in the July announcement.

Like other exchange tokens such as BNB and FTT, token holders will be entitled to discounts on trading fees and other perks.

Hoeptner explained that the specific launch date depends on if the exchange’s team believes that there’s not another “tremendous dip” on the horizon. Launching just before a dip, he said, would mean that the attention is focused on the token’s declining price rather than the exchange’s new features or other accomplishments like its registrations in Italy and Switzerland.

“People waited for so long. They can wait for another month or two,” Hoeptner said.


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.

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about