BitMEX CEO Maps Out Future 'Living by the Rules'

Alexander Hoeptner says "discussions need to be had" with regulators.

AccessTimeIconJul 7, 2021 at 8:41 p.m. UTC
Updated Aug 21, 2021 at 12:32 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Three former executives of BitMEX will face trial in the U.S. next spring, but Alexander Hoeptner, the current CEO, said the company, which operates a crypto peer-to-peer network and a derivatives trading exchange, plans to “live by the rules,” stressing the importance of having “active discussions” with regulators. 

In an interview Wednesday on CoinDesk TV’s "First Mover," when questioned about the future of BitMEX and what the company has learned from past experiences, Hoeptner said he couldn't “go into details on what is happening with U.S. regulators.” 

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • “Discussions need to be had with regulators about crypto assets and blockchain,” he said. 

    “You have to educate the global market on the possibilities, this is something the crypto industry should have taken on themselves,” he said. Regulations imposed in the past no longer “make sense.” 

    Hoeptner is also the CEO of 100x Group, which is the holding group for HDR Global Trading Ltd., owner and operator of the BitMEX platform. The platform allows customers to leverage up to 100 times their investment, giving them the opportunity to make a huge profit if the price of the cryptocurrency moves up or lose big if the price drops. 

    When asked whether 100x plans to continue offering large leverage opportunities, Hoeptner said that it’s not the dominating feature of the product. 

    “On average of what is traded, the leverages are in the single-digit area,” he said. “A very rare and small extent is used at a high leverage.” 

    Hoeptner said that entering the U.S. market is not on the horizon and that for now,  the exchange is focusing on “living by the rules." The company is based in the Seychelles, an island nation in the Indian Ocean off the east coast of Africa.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.