The wave of cryptocurrency-related C-level execs leaving their positions amid the ongoing bear market continues.

The latest to do so is the CEO of BitMEX – Alexander Höptner, according to a recent report.

• The Block’s coverage informed that Höptner has stepped down from its role effective immediately, and Stephan Lutz will replace him as the Interim CEO of the derivatives exchange. Lutz will also remain as the company’s CFO.
• The German was appointed as the CEO of 100x – the parent company of BitMEX – back in late 2020, as he succeeded Arthur Hayes following the legal troubles against him and other firm founders.
• Previously, Höptner held similar executive roles in the German exchange Giant – Börse Stuttgart GmbH and Euwax AG.
• In a special interview for CryptoPotato from 2021 explained how he planned to take BitMEX into the new age after the exchange’s derivatives market share had plummeted.
• By stepping down from his role now, Höptner has joined the ever-growing list of crypto-related executives that leave during the ongoing bear market.
• Some of the most notable names that have quit in recent months include Kraken’s CEO – Jesse Powell, Celsius’ CEO – Alex Mashinsky, and MicroStrategy’s Michael Saylor.