Musical chairs in crypto – And departure more in the cryptocurrency industry. Definitely, this year will have been the scene of many changes at the head of exchanges and foundations. The post-Covid period has certainly aroused desires from elsewhere and nourished the Big Quit but the fall in the market also contributed to the downsizing, through layoffs targeted. A new captain at BitMEX to navigate in the too calm waters of the bear market ? Beginning of response to follow.
A new interim CEO
The news came yesterday from the American specialized media and it concerns the CEO of one of the oldest platforms on the market: BitMEX. Based in the Seychelles, the exchange was founded in 2014 and therefore change again of responsibility. Alexander Höptner leaves his post after two short years of presence. It is replaced with ” immediate effect by the current CFO Stephan Lutz. The latter will occupy the position on an interim basis while retaining his previous functions.
The new master of the place made his first declaration by e-mail:
“Along with the rest of the management team and our staff, I will ensure that BitMex continues to provide excellent crypto trading products and a secure and stable environment for our customers. (…) We would like to thank Alexander for his support of the company during his tenure and wish him good luck in his future endeavours.”
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BitMEX losing ground against the competition
For the moment, no reason has been given by the company to explain the departure of the former leader. He had succeeded Vivien Khoo in 2021himself interim CEO after the departure ofArthur Hayes. The founder of the platform had to leave his post after his company’s disputes with the American justice system. But beyond the legal problems, BitMEX, like its competitors, is going through a delicate period marked by numerous layoffs.
Indeed, the decrease crypto prices and general industry activity has led to pay restructurings that have affected small and large companies alike. But that’s not all. BitMEX additionally suffers from a lack of results compared to giants like Binance or FTX which take away market share. The appointment of Stephan Lutz will it change anything? Case to follow.
From an external point of view, one could say that the market is amorphous and nothing much happens. But behind the curtain, companies are sharpening their weapons and restructuring to prepare for the reprise. Because despite a downright unfavorable macroeconomic situation, certain indicators show that cryptos will have to be reckoned with in the future.
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