BitMEX CEO Stephan Lutz: From Finance to Crypto

Stephan Lutz, the CEO of BitMEX, has a background that spans business administration, economics, banking, and finance. He began his career as a corporate finance analyst at Dresdener Bank and later moved to Deutsche Börse, where he became fascinated by blockchain technology. Despite his impressive resume, Lutz was drawn to the crypto world and joined BitMEX in 2020. BitMEX, founded in 2014, is known as the industry's "OG" derivatives exchange. It has survived many ups and downs in the crypto world and has never been hacked. Lutz emphasizes that BitMEX is not a spot exchange and does not operate a launchpad. Instead, it focuses on providing derivatives, futures, and perpetual swaps for top coins and pairs. Lutz acknowledges that BitMEX is not suitable for beginners and emphasizes the importance of education and experience in trading. He believes in a free world where individuals can take risks without being mollycuddled or gatekept. BitMEX provides resources to ensure that traders are taking informed risks. In response to the crypto winter of 2022 and the FTX collapse, BitMEX overhauled its infrastructure and processes to focus more on risk management. Lutz emphasizes that BitMEX is one of the most conservative crypto places on the planet, with a focus on derivatives for professionals and full segregation of assets. BitMEX recently launched a copy trading feature, which Lutz describes as bridging the worlds of TradFi and crypto. This feature enables users to benefit from the experience and success of professional traders and easily replicate their strategies. Users can also emulate multiple traders at once and calibrate their risk level. BitMEX has never catered to U. S. traders, but Lutz is exploring the possibility of re-entering the U. S. market. He emphasizes that it would take time and effort to do so in a valid way. Lutz also mentions that BitMEX will roll out its institutional-grade custody solution and has moved its data centers from Dublin to Tokyo to cater to institutional traders. Lutz admits that following in the footsteps of Arthur Hayes, BitMEX's outspoken former CEO, is both an honor and a challenge. He acknowledges the legacy of Hayes and the doors it opens for him, but also the difficulty of being a co-owner and CEO.