BitMEX Replaces CEO, CFO and Growth Chief Amid Possible Sale Preparations

Crypto exchange BitMEX has replaced its chief executive officer, chief financial officer and chief growth officer, CoinDesk reported.

CoinDesk reported on June 29 that BitMEX removed CEO Stephan Lutz, CFO Eina Steiner and Chief Growth Officer Raphael Polansky from their posts.

Peter Wilkinson, the company’s former global head of legal and chief operating officer, was named chief executive. CoinDesk said recent LinkedIn posts confirmed the management changes.

BitMEX is a crypto exchange and derivatives trading platform founded in 2014 by Arthur Hayes, Ben Delo and Samuel Reed. U.S. authorities charged the company in 2020 with failing to comply with anti-money laundering obligations, and it later pleaded guilty to the related charges. Hayes and the other co-founders stepped down after the U.S. criminal indictments.

CoinDesk said the executive overhaul appears intended to reduce costs and make the company more attractive to potential buyers, with BitMEX reportedly seeking an acquirer.

Lutz took over in 2022 during the crypto market downturn, succeeding former CEO Alexander Höptner. Höptner became chief executive in early 2021 after Hayes and the other co-founders stepped aside.

With the crypto market slump continuing, other crypto and technology companies have also cut jobs and reorganized to reduce costs.