Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
BitMEX’s parent company, 100x Group, has appointed Alexander Höptner as its new chief executive officer (CEO), two months after Authur Hayes stepped down from the position amid the lawsuits filed against the exchange by the United States regulators.
According to the official announcement today, the newly appointed CEO will lead 100x Group, the holding Group for HDR Global Trading Limited, owner and operator of crypto derivative giant BitMEX.
Höptner, 50, has a wealth of experience in the financial industry. He was the former chief executive officer of Boerse Stuttgart GmbH, Germany’s first regulated trading venue cryptocurrency, and second-largest stock exchange. He also worked at Deutsche Boerse AG for 15 years.
The new CEO will join the company in January 2021 to replace the company’s former COO, Vivian Khoo, who was named the Interim CEO following Hayes’ departure.
Since the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) accused BitMEX and its founders of violating several U.S. rules, 100x has made necessary steps to the right the wrongs.
The regulators charged the company with operating an unregulated crypto exchange and failing to implement KYC and anti-money laundering requirements for its users. The charges are part of CFTC’s efforts to eliminate illegal activities and protect investors in the derivative markets.
The company has made a series of new appointments after announcing changes to its management positions and reshuffling leadership positions.
In October, Cryptoadventure reported that 100x’s founder, Arthur Hayes, stepped down as CEO, alongside co-founder and CTO Samuel Reeds and several others.
Earlier last month, 100x also announced a new Chief Compliance Officer, Malcolm Wright, to pilot its compliance affairs.
Following the charges, BitMEX also accelerated the compulsory KYC process for all its customers to create a safer trading ecosystem.