BitMEX considers adding spot trading and custody services

Crypto derivatives exchange BitMEX is considering offering three new services: Spot trading, brokerage, and custody.

Alexander Höptner, CEO of BitMEX operator 100x Group, revealed the plan in a Bloomberg interview published Thursday. "We have to very fast make up our mind how we want to approach these aspects and then see whether we could find a partner or whether we build something or buy something," said Höptner.

BitMEX is also aiming to amend relations with global regulators, said Höptner, a former CEO of the German stock exchange Börse Stuttgart.


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“We are approaching regulators where we are currently present, but we will also reach out to regulators where we are not,” said Höptner.

Höptner joined 100x Group in January, three months after the U.S. government charged BitMEX and its former executives for failing to deploy adequate anti-money laundering measures at the trading platform and violating CFTC rules.

U.S. authorities are currently discussing a surrender agreement with former BitMEX CEO Arthur Hayes, and he could surrender as soon as next month, according to a recent court filing.

Another co-founder Ben Delo is planning to appear in New York, per the filing. The U.S. government has also begun extradition proceedings against Greg Dwyer, former head of business development at BitMEX.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.