HDR Global Trading, the parent company of the BitMEX crypto derivatives exchange, announced the restructuring and creation of a new holding organization called the 100x Group. “100x will become the holding formation for HDR and assets, including the BitMEX platform,” said co-founder Arthur Hayes.
Some market participants perceived the restructuring as a potential signal that the new company, headed by Hayes, plans to launch new products outside the cryptocurrency market.
Greg Dwyer, director of public relations at the company, said it was too early to comment on 100x ambitions. He added that in the future, the company could enter markets that are not related to cryptocurrencies.
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On a BitMEX blog, Hayes wrote: “These changes will give us more independence to explore and realize new opportunities and investments. Along with this, we will continue to work on maintaining the leading position of BitMEX. The platform, brand, and legal structure of BitMEX will remain completely unchanged at the launch of the 100x Group, but we will double the growth of BitMEX thanks to the development of technology and constant innovation in our products. BitMEX remains and will remain the cornerstone of our success.”