Following the ongoing US charges against BitMEX, the leading derivatives exchange has, today, announced an immediate change to its current leadership. This informs the dismissal of the exchange’s CEO, Arthur Hayes, who was equally named as one of the defendants in the charges. This is coming soon after the exchange declared its plans to fight the charges brought against them by the CFTC, the US Commodity Futures Trading Commission.
According to the report on Thursday, Arthur Hayes got dismissed from the BitMEX management team, and this new change became effective immediately after the declaration. Besides Hayes dismissal, another named defendant, Samuel Reed, has been denounced from being a part of the leadership. This means that Reed is no longer the CTO of the derivatives exchange.
David Wong, the chairman at 100x Group, the parent company of the exchange, said:
“These changes to our executive leadership mean we can focus on our core business of offering superior trading opportunities for all our clients through the BitMEX platform, whilst maintaining the highest standards of corporate governance.”
The changes made today probably comes due to the US charges, as the exchange mostly changed the officials named as defendants in the case. Also, the founder Ben Delo got banned from holding any executive position in the parent company behind BitMEX, the 100x Group. Delo was reportedly named as a defendant in the case as well. Another official, Greg Dwyer, was sent on leave from his position as the head of business development at the exchange.
BitMEX Reappoints New CEO
The exchange was quick to announce the COO at 100x Group, Vivien Khoo, as the interim chief executive officer for BitMEX, now replacing Hayes. In addition to being the commercial director at the exchange, Ben Radclyffe has been tasked with also managing the financial products and client relationship of the exchange, per the announcement today.
“We have an exceptional senior leadership team who are well-placed to continue the growth and development of the 100x Group, including completion of the BitMEX User Verification Programme. It is business as usual for us and we thank all clients for their continued support,” the chairman of 100x Group added.