BitMEX Clears Executive Team, Names New CEO Amid Buyer Search

BitMEX removed its chief executive, chief financial officer and head of growth, a move that comes as the crypto derivatives exchange is reportedly shopping for a buyer. CoinDesk reported the departures, citing LinkedIn postings.

Chief Executive Stephan Lutz and Chief Financial Officer Ina Steiner are out. Head of Growth Raphael Polansky also departed. Peter Wilkinson, the former global general counsel and chief operating officer, has taken over as CEO. The four executives did not respond to requests for comment.

BitMEX was co-founded in 2014 by Arthur Hayes, Ben Delo and Samuel Reed. In 2020, U.S. authorities charged the exchange with failing to implement adequate anti-money laundering controls. BitMEX later pleaded guilty. Hayes, Delo and Reed resigned shortly after the charges were filed.

Lutz became CEO in 2022, replacing Alexander Hoeptner, who had himself taken the role in early 2021 after the founders stepped down. The latest management shakeup coincides with a prolonged slump in digital asset prices that has squeezed revenue across the crypto industry.