What happened to BitMEX founder Arthur Hayes?

The epic rise and fall of BitMEX impacted founder Arthur Hayes. Arthur Hayes stepped down as CEO of BitMEX in October 2020. After getting fired from his job as an ETF market maker for Deutsche Bank and Citibank in 2013, Hayes developed BitMEX. The platform serves as a way for people to use Bitcoin to conduct international trading.

Why did Michael Hayes start a bitcoin exchange?

Hayes saw an opportunity for a more exclusive venture. One of his specialties at Deutsche Bank and Citi had been trading futures contracts. “I live and breathe derivatives,” Hayes said. He imagined a niche exchange for sophisticated traders who wanted to bring Wall Street–style maneuvers to bitcoin.

How much is Arthur Hayes worth?

While Hayes's net worth isn't public information, some speculate that he's worth $500 million. Of course, that figure should be taken with a grain of salt. The epic rise and fall of BitMEX impacted founder Arthur Hayes. Arthur Hayes stepped down as CEO of BitMEX in October 2020.

Who was Arthur Hayes?

Arthur Hayes. Photo: Michael Nagle/Bloomberg Arthur Hayes was born to middle-class parents who worked for U.S. automobile giant General Motors. He spent his formative years in both Detroit and Buffalo. He attended the prestigious Nichols School in America and continued to the Wharton School of business.