Unconfirmed BitMEX Exec Shakeup Rumor Examined

BitMEX invented the perpetual swap in 2016, a contract type that now dominates crypto derivatives volume. The innovation was genuine. The exchange’s market share collapsed after the 2020 indictments. By 2025, its share of bitcoin perpetual volume had fallen to roughly 5%, from an estimated 50% in 2018, according to data from The Block. Competitors including Binance, Bybit, and OKX captured the flow.

The exchange has spent the past four years rebuilding compliance. It licensed in Seychelles, hired former law enforcement officials, and introduced know-your-customer checks. BitMEX still operates under a deferred prosecution agreement with the Justice Department, which requires ongoing oversight. The DPA imposes periodic compliance reviews. Any unannounced shakeup of senior executives could trigger a re-examination by prosecutors. No such event has occurred, and no official statement has addressed the rumor.

The unverified claim appears to have originated on social media without attribution to any named source. BitMEX declined to comment when contacted by AlphaScala. The company’s last public leadership update was Lutz’s promotion to Group CEO in 2022. The next scheduled compliance report under the DPA is due by mid-2026.