HDR Global Trading, the operator of major crypto derivatives platform BitMEX, is creating a new holding company structure, branded 100x, “to pursue a broader vision to reshape the modern digital financial system,” Co-founder and CEO Arthur Hayes announced today.
The new structure will include all assets of HDR, including BitMEX that was launched in 2014. According to Hayes, this evolution will provide them with more “freedom to explore, incubate and pursue new opportunities and investments, whilst remaining entirely committed to enhancing BitMEX’s leadership position.”
“The BitMEX platform, brand and legal structure remain entirely unchanged by the launch of the 100x Group, but we will be doubling down on growth of BitMEX through continual product innovation and technology advancement. BitMEX is, and will remain, the cornerstone of our success,” the CEO said in a blog post.
The portfolio of 100x includes the trading platform and 100x Ventures, a crypto investment company with holdings in projects like MaiCoin, Merkle Science, PDAX, and the Sparrow exchange. The group employs over 200 people globally.
The 100x Group is led by HDR’s founders, Arthur Hayes, Ben Delo, and Sam Reed. They are also joined by recently appointed non-executive chairman, Dr David Wong, a former Bank of China (Hong Kong) Group and ABN AMRO Bank executive, who is now responsible for guiding the Group’s long-term growth strategy.
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