BitMEX EX-CEO Alexander Hoeptner Sues Crypto Derivatives Platform

According to court filings, Alexander Hoeptner, former CEO of BitMEX, has filed a $3.4million lawsuit against the cryptocurrency derivatives platform. He claims that he was sued for breaching contract and wrongful termination.
Hoeptner joined the Seychelles-registered exchange in January 2021. The founders of BitMEX HDR Global Trading Limited were accused of facilitating unregistered trading at that time. Although he was reported to have left the company around October 2022, no further details were given.


Hoeptner claims that he received a termination letter citing, among others, misuse of funds, and failure to fulfill duties. According to the court filings, BitMEX owes Hoeptner $3.4 million. This includes $2.4 million for his second year bonus and smaller amounts for wages, relocation expenses, housing, and other costs. As CEO of BitMEX Hoeptner moved around a lot, splitting his time between Singapore, Germany, and Hong Kong.
The company informed him that he might not be eligible for his second-year bonus, or reimbursement for his relocation costs, between July 2022 and August 2022. He claimed it was due to a “extensive restructuring and cost-cutting program that involved many layoffs.”
Alexander Hoeptner’s relocation expenses totaled $230,000 at that time. A few weeks later, he received a termination notice. BitMEX did no immediate respond to an email asking for a comment.
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Before joining BitMEX in 2020, Hoeptner was the CEO of the German stock exchange Borse Stuttgart GmbH, and the liquidity provider Euwax AG. Hoeptner stated previously that BitMEX would launch its native token, BMEX by the end of this year.


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