Hughes Names CRO of BitMex
Posted by Colin Lambert. Last updated: January 18, 2022
Marcus Hughes has been named chief risk officer by Bitmex, he will also join the firm’s executive board and have responsibility for its regulatory affairs, risk, legal, and compliance functions. He will report directly to BitMex CEO, Alexander Höptner.
BitMex, the co-founders of which continue to face the prospect of legal action in the US over allegations of illegal activities in the country, says Hughes will guide its legal strategy, lead engagement with regulators and policymakers around the world, and build out the fim’s risk framework and compliance programme as it expands into new markets. It adds he will spend time across its offices in Europe, Asia, and North America.
Prior to joining BitMEX, Hughes was managing director of Coinbase’s European business, where he worked with product teams to build and scale the business as well as establish and develop relationships with regulators across the world. Prior to joining Coinbase, he spent almost a decade at Morgan Stanley in the legal and compliance division.
“I’m very bullish about the growth potential of BitMex, which over the past year has added top-tier talent, deepened its product portfolio, and established the foundation for its ‘beyond derivatives’ strategy,” says Hughes. “The next stage in our evolution will be characterised by an expansion of the platform’s capabilities, paired with an equally ambitious push into markets worldwide. World-class risk management, compliance, and regulatory affairs programmes will be key enablers of this next phase of growth for BitMex.”
Höptner, adds, “Marcus’ appointment marks a major step forward for BitMex’s global expansion and his experience will be invaluable as we scale the business, implement our ‘beyond derivatives’ strategy, and navigate the evolving global regulatory environment.”