BitMex announce leadership changes following criminal charges

Derivatives exchange BitMex announced changes to the leadership of its parent company 100x Group. These changes follow recent criminal charges brought against the three founders of the group, Arthur Hayes, Samuel Reed and Ben Delo.

The exchange announced that the three founders who were charged in the criminal case will no longer hold executive positions at the 100x Group. Hayes and Reed have stepped down as CEO and CTO of the company and Delo will not hold executive positions. The fourth executive to be charged and head of business development, Greg Dwyer, will take a leave of absence.

Chief operating officer, Vivien Khoo will take Hayes’s place and become interim CEO. She joined the company in March 2019 from managing director, Asia Pacific Compliance at Goldman Sachs.

bitmex investigation

Ben Radclyffe, who serves as commercial director, will have enhanced responsibility for client relationship handling and oversight of financial products. With 20-year background in finance and trading technology, he joined the company in March 2020, having worked at Deutsche Bank, UBS and Tower Research Capital.

David Wong, Chairman of 100x Group, commented:

David Wong, BitMex

David Wong

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.

The US Department of Justice (DOJ) filed criminal charges against Arthur Hayes and four other executives at BitMex for violating the Bank Secrecy Act. The Commodity and Futures Commission (CFTC) followed with civil enforcement action against BitMEX and three of its executives for violating Anti-Money Laundering regulations.

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