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BitMEX CEO and CTO Step Down From Their Positions Amidst CFTC Crackdown

100x Group, the holding group behind the BitMEX crypto derivatives trading platform, announces major managerial changes to get it out of trouble

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Cover image via www.bitmex.com

BitMEX leaders have no plans to surrender in their battle with CFTC. An hour ago they announced unprecedented castling intended to help the platform in its struggle with regulators.

Crucial changes

According to an official statement released by BitMEX administrators, its founding entity, 100x Group, announced "major changes" in its directorial board.
 

Both founders of BitMEX, Arthur Hayes and Samuel Reed, who served as CEO and CTO respectively, are stepping down from their roles. The 100x Group introduces banking and investment veteran Vivien Khoo as interim CEO. Previously, she was chief operating officer at the company.

The responsibility of commercial director Ben Radclyff has been expanded to handling client relationships and oversight of financial products.

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Fellow founder Ben Delo and head of business development Greg Dwyer no longer hold any positions in the 100x Group.

BitMEX never gives up

These changes are prompted by the regulatory attack on BitMEX. Both the platform and its leaders were accused by the CFTC of illegal trading services and market manipulations.

Also, the CFTC authorized the arrest of company CTO Samuel Reed. However, rumors about the imprisonment of Arthur Hayes have not been confirmed.

👉 MUST READ $130,000,000 in Bitcoins Panic-Withdrawn from Binance and Gemini on BitMEX News: CoinMetricsrelated article image

The BitMEX drama has already resulted in a massive outflow of Bitcoins (BTC), panic-withdrawn by users. As covered by CryptoComes, total withdrawal amounts surpassed $370 mln.

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)