Bitmex's Arthur Hayes, Samuel Reed Step Down From CEO and CTO Roles 16

Bitmex’s Arthur Hayes, Samuel Reed Step Down From CEO and CTO Roles

Quick take:

  • Bitmex’s Arthur Hayes and Samuel Reed are stepping down from their roles as CEO and CTO respectively
  • The move comes a week after the US CFTC and DoJ charged them with illegally operating a derivatives exchange and violating the Bank Secrecy Act
  • Vivien Khoo, Chief Operating Officer of 100x Group, will become Interim CEO
  • Ben Radclyffe, Commercial Director at Bitmex, will have enhanced responsibility for client relationship handling and oversight of financial products

The team at Bitmex has announced that Arthur Hayes and Samuel Reed are stepping down from their CEO and CTO roles effective immediately. The announcement by the team at Bitmex further clarified that all founders, including Ben Delo, will step back from all executive management responsibilities.

Founders Arthur Hayes and Samuel Reed have stepped back from all executive management responsibilities for their respective CEO and CTO roles with immediate effect.

With fellow Founder Ben Delo, they will not hold executive positions in the 100x Group. Additionally, Greg Dwyer will take a leave of absence from his role as Head of Business Development.

The move by the founders of Bitmex to step down comes a week after the US CFTC and Department of Justice charged them with illegally operating a derivatives exchange and violating the Bank Secrecy Act.

Vivien Khoo as Interim CEO and Ben Radclyffe to Oversee Financial products

In terms of filling the void left by the founders of Bitmex, Vivien Khoo, the Chief Operating Officer of 100x Group, has been named Interim CEO. The current Commercial Director, Ben Radclyffe, has been given ‘enhanced responsibility for client relationship handling and oversight of financial products’.

The Chairman of 100x Group, David Wong, explained that the changes were meant at maintaining focus on Bitmex’s core business and to further push for the completion of Bitmex’s User Verification Program.

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.

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.