The chief executive officer of digital currency protocol BitMEX, Alexander Hoeptner, has stepped down to exit the firm.
Stephen Lutz was assigned as a pro tem executive chair of the firm, a representative of the company disclosed. Lutz will serve as a temporary CEO and also continue with his duties as the trading protocol’s chief financial officer, the representative further noted.
In 2021, BitMEX employed the services of Hoeptner, who was the chair of the German security exchange Borse Stuttgart GmbH and bankruptcy assistance Euwax AG.
Hoeptner had disclosed BitMEX’s aim to introduce its token before the year runs out. However, a delay announcement was released in July, highlighting that the current market disposition might be a threat to how beneficial the token would be to holders.
According to Hoeptner’s address to CoinDesk, “if you launch a token in the market which clearly is not at all at the bottom, then your token will be drained down with the general environment.”
Hoeptner’s resignation was previously briefed on The Block’s official website.
The temporary assigned BitMEX executive chair Lutz was a one-time associate at the accounting and human resource consulting company PricewaterhouseCoopers (PwC).
CoinDesk had reported Lutz’s appointment as BitMEX CFO in March 2021. He began his expertise operation in May 2021, as disclosed by the report.
“We want to thank Alexander for his support to the business during his tenure and wish him well in his future endeavors,” Lutz added in an email comment.