The former executive of Germany’s 2nd biggest stock exchange, Börse Stuttgart, has been recently selected by venture firm 100x Group’s management to lead its several products and investments, according to an announcement. Alexander Höptner will join the crypto exchange in the first month of 2021.
Notably, the 100x group operates digital currency derivatives exchange BitMEX, whose 3 founding members—Arthur Hayes, Ben Delo, and Samuel Reed stepped down in October subsequent to facing several charges in the United States. In an interview with financial publication Bloomberg, Höptner mentioned,
“Crypto is a very quickly developing market.”
He further added that rising espousal, institutional attention, and regulatory modifications to accommodate the mushrooming virtual asset domain made the sector exciting for a traditional exchange individual like him.
It is to be noted that Höptner substitutes 100x interim CEO Vivien Khoo and is purportedly set to take office in Singapore, according to Bloomberg.
In the meantime, Höptner’s appointment comes at a difficult time as well. The cryptocurrency exchange has seen dwindling volumes and overall negative sentiment in virtual currency circles since last month, but new headship may perhaps help change that.
Nevertheless, with BTC and the digital asset market picking up and supporters calling for a bull run in 2021, the exchange is probably looking at the silver lining.
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