BitMEX CEO, CFO to Buy One of Germany's Oldest Banks

BXM Operations, a firm founded by the CEO and CFO of crypto trading platform BitMEX, plans to purchase Bankhaus von der Heydt, one of the oldest banks in Germany.

The Munich-based bank's current owner, Dietrich von Boetticher, has signed a purchase agreement with BXM,Bankhaus von der Heydt was formed in 1754 and has in recent years become one of the first regulated institutions in Germany to offer digital asset services.technology provider and crypto unicorn FireblocksThe planned purchase forms part of BitMEX's strategy to create a one-stop shop for regulated crypto products in Germany, Austria and Switzerland.

The transaction is subject to approval by BaFin, Germany's regulator for banking and financial services. Following completion, Bankhaus von der Heydt will continue to function as a standalone entity and BitMEX CEO Alexander Höptner and CFO Stephan Lutz will join the supervisory board.

BitMEX JamieCrawleyCD Overstating the history of this bank a tad. In reality it is a financial institution with 16 employees that was formed in 2005 by buying the naming rights for a no-longer-operating entity from Commerzbank.

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