The announcement was published on the official BitMEX blog, which explicitly reads:
“Founders Arthur Hayes and Samuel Reed have stepped away from all executive management responsibilities for their respective CEO and CTO roles with immediate effect. With fellow founder Ben Delo, they will not hold executive positions in the 100x Group. Additionally, Greg Dwyer will take a leave of absence from his position as Head of Business Development. ”
The company admits that this decision was made as a result of the complaint received by the US CFTC, with the full approval of the founders themselves.
It appears that there have been significant withdrawals of funds from the platform in the days following the publication of the news, so the decision announced today may be part of a plan to change the image of the company in an attempt to reassure the users.
It must be said, however, that in recent days there have been no interruptions or anomalies in the operation of the platform, which seems to be working as before.
The new interim CEO will be the chief operating officer, Vivien Khoo, who will assume additional operational responsibilities. With the company since March 2019, Khoo was previously Managing Director of Asia Pacific Compliance at Goldman Sachs, and previously held positions with the Hong Kong Securities and Futures Commission.
Chief Commercial Officer Ben Radclyffe will also take on additional responsibilities, particularly in managing customer relationships and overseeing financial products. With the company since March 2020, Radclyffe has 20 years of business and financial technology experience with Deutsche Bank, UBS and Tower Research Capital.
These new appointments appear to reassure users of the platform that they are beginning a new management process that is much more focused on legal issues and regulatory compliance.
100x Group President David Wong commented:
“These changes in our executive leadership mean that we can focus on our core business of offering superior business opportunities for all of our clients through the BitMEX platform, while maintaining the highest standards of corporate governance. We have an exceptional senior leadership team that is well placed to continue the growth and development of the 100x Group, including the completion of the BitMEX User Verification Program. For us it is as always and we thank all the clients for their continuous support ”.