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Alexander Höptner, former managing director of the second largest German stock exchange, Boerse Stuttgart, has been appointed head of its various products and investments by venture company 100x Group, as announced. He will join in January 2021.
The group operates the crypto derivatives exchange BitMEX, whose three founding members – Arthur Hayes, Samuel Reed and Ben Delo – resigned in October after facing multiple charges in the US.
« Crypto is a very rapidly developing market, » Höptner said in an interview with the financial publication Bloomberg, adding that the increasing acceptance, institutional interest and regulatory changes to accommodate the burgeoning crypto industry are taking place Sector for « made a classic Exchange guy » interesting « like him.
Despite the modest comments, Höptner is nothing new to cryptocurrencies. Before that, he was in charge of trading in digital assets « BISON » at the Stuttgart Stock Exchange and during his time even oversaw the admission of several Bitcoin funds to the stock exchange.
Höptner is replacing Vivien Khoo, the 100-time interim CEO, and according to Bloomberg, he will take up his post in Singapore.
In the meantime, Höptner’s appointment also comes at a critical time: BitMEX has seen falling volumes and an overall negative sentiment in crypto circles since last month, but new leadership could help change that.
According to data from the analytics website CoinGecko, BitMEX volume fell to just $ 675 million in mid-October, a significant drop from the billion dollars traded daily on the exchange. However, they have since rebounded, posting a four month high volume of $ 6. 2 billion last week.
But with Bitcoin and the crypto market picking up, and proponents calling for a bull run in 2021, BitMEX is likely to be looking at the silver lining.
Stuttgart Stock Exchange, Cryptocurrency Exchange, Bitcoin, CEO
World news – USA – CEO of the second largest German stock exchange will soon execute BitMEX – Decrypt
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Ref: https://decrypt.co
