Arthur Hayes stepped back from his role as chief executive of BitMEX's parent group, 100x Group, on Oct. 8, 20201. U.S. regulators had charged Hayes and two co-founders over the exchange's trading practices on Oct. 1, 2020. The Commodity Futures Trading Commission and federal prosecutors filed those charges2. CoinDesk reported the leadership change on Oct. 8, 2020. Vivien Khoo, then chief operating officer of 100x Group, took over as interim chief executive.
Two leadership moves at BitMEX on the record since 2020
Every move CryptoLately has verified there, by the day it became public
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Date | Event |
|---|---|
| Oct. 8, 2020 | Hayes left as CEO, 100x Group. Arthur Hayes left as Chief Executive Officer, 100x Group of BitMEX |
| Jan. 3, 2022 | Rothenhaeuser became Chief Commercial Officer. Rupertus Rothenhaeuser was named Chief Commercial Officer of BitMEX |
Nine CEO exits on the record in 2020
CEO exits CryptoLately has verified, by year
- 2020: 9
- 2017, 2018, 2019, 2021, 2022, 2023, 2024
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2017 | 3 |
| 2018 | 2 |
| 2019 | 7 |
| 2020 | 9 |
| 2021 | 5 |
| 2022 | 18 |
| 2023 | 11 |
| 2024 | 20 |
The move
100x Group's blog post named the change plainly. “Founders Arthur Hayes and Samuel Reed have stepped back from all executive management responsibilities for their respective CEO and CTO roles with immediate effect,” the company wrote. A third founder, Ben Delo, also left his executive position, the post said1. David Wong, chairman of 100x Group, framed the shakeup as a governance move. “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,” Wong said. CoinDesk reported the CFTC named Hayes, Delo and Reed directly. The regulator accused the platform of offering unregistered derivatives trading to U.S. customers2.
BitMEX before and after
Hayes had run BitMEX since co-founding it in 20143. He built the exchange around the perpetual futures contract, which BitMEX says it created and CoinDesk says it helped pioneer1. Khoo joined 100x Group in March 2019 from Goldman Sachs, where she served as managing director of Asia Pacific compliance. She had earlier worked at the Hong Kong Securities and Futures Commission. Ben Radclyffe, the company's commercial director since March 2020, took on expanded oversight of client relationships and financial products the same day. A BitMEX spokesperson told CoinDesk the platform remained open for business, despite a rush of customer withdrawals after the charges became public2.
What came next
BitMEX ended trading, deposits and new positions at 04:00 UTC on Sept. 22, 2026, after an 11-year run, CoinDesk reported on Sept. 233. Customers could still log in and withdraw. BitMEX told customers to withdraw their balances. Verified accounts that left funds on the platform would face a monthly fee equal to 1% of assets annualized or $50, whichever was greater, BitMEX said. BitMEX had announced the closure in July 2026, after a strategic review, as it lost ground in the derivatives market it helped create, CoinDesk reported.
Sources
- BitMEX, "Leadership Changes at 100x Group," BitMEX Blog, Oct. 8, 2020, https://web.archive.org/web/2020/https://blog.bitmex.com/leadership-changes-at-100x-group/
- Daniel Palmer, "BitMEX CEO Arthur Hayes Leaves Role After US Charges," CoinDesk, Oct. 8, 2020, https://www.coindesk.com/business/2020/10/08/bitmex-ceo-arthur-hayes-leaves-role-after-us-charges
- Olivier Acuna, "BitMEX shuts down: perpetuals pioneer officially closes its doors after 11 years," CoinDesk, Sept. 23, 2026, https://news.google.com/rss/articles/CBMirgFBVV95cUxPcXR1U3V0a29PSThWajRlRzNCU0RCTkRVYVBTRHVUd1RrUnlMTnFxVHZ0blA0TVdfUkFKeWZaaVZLYWVUbl9VaEU5SHQ4LWtELWdYTUNwZWd4UGJRbjJZTEFSV3QyWk9uMlBOUWtLbFdBTlBCVEpYMExmSzBwZHlNQTl2c2dvOERVZXBWWGxIQjg1MVBUM3pRLU5DVzlqeVprcVJ1NXF3Y2d6SXZRTWc?oc=5