Alexander Heptner steps down as BitMEX chief executive

Alexander Heptner, chief executive of the BitMEX crypto-derivatives platform, has stepped down, according to The Block.

“Stefan Lutze has been appointed interim CEO of BitMEX after Alexander Heptner immediately left our business. Stefan will continue to serve as chief financial officer, having held the post since May 2021,” the company’s representatives wrote in an email.

Founded in 2014, BitMEX was among the first to offer crypto-derivative markets. Over time the company faced regulatory problems, one of the consequences of which was a leadership change.

The former head of the Stuttgart Stock Exchange Alexander Heptner took the helm at BitMEX in late 2020.

In April 2021 the exchange unveiled an ambitious development plan envisaging a transformation into one of the world’s largest crypto-derivative platforms. However, against the bear market, the company had to cut staff.

Initially BitMEX led in trading volume and open interest among peer crypto-derivative platforms, but over time ceded ground to giants such as FTX, Binance and CME Group.

In October 2022, Heptner stated that he did not see a decline in institutional interest in the digital-asset industry.

Read ForkLog’s bitcoin news on our Telegram — cryptocurrency news, prices and analysis.