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BitMEX Hires Former JPMorgan Executive Director as Head of Custody
BitMEX said the appointment forms part of the firm's "beyond derivatives" strategy.
Updated Sep 14, 2021, 1:12 p.m. Published Jun 17, 2021, 9:57 a.m.
Crypto derivatives exchange BitMEX has hired former JPMorgan Executive Director Marc Robinson as its head of custody.
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- Robinson arrives with 20 years' experience in traditional financial services. Much of this experience was in Japan, most recently for SBI Holdings, an announcement Thursday said.
- He served as JPMorgan's executive director of high-frequency trading product for the Asia market from 2012 to 2014.
- Robinson also held front-office roles in electronic trading at Lehman Brothers and Nomura.
- BitMEX said the appointment forms part of the firm's "beyond derivatives" strategy in which it aims to expand into areas of crypto such as brokerage, custody and spot trading.
Read more: Bitcoin Is Heading to the Moon and for Once It’s Meant Literally, Courtesy of BitMEX
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Rampant speculation on crypto derivatives platforms is fueling volatility and risking bitcoin’s image as a stable hedge, says BlackRock’s digital assets chief.
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- BlackRock digital-assets chief Robert Mitchnick warned that heavy use of leverage in bitcoin derivatives is undermining the cryptocurrency’s appeal as a stable institutional portfolio hedge.
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- He argued that exchange-traded funds like BlackRock’s iShares Bitcoin ETF are not the main source of volatility, pointing instead to perpetual futures platforms.
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