MEXC’s New CEO Plans ‘Everything Trading’ Platform, Balancing Memecoins and Compliance

MEXC has become one of the world’s three largest cryptocurrency exchanges by trading volume, drawing about 98% of its activity from retail traders with zero fees, more than 3,000 tokens and rapid memecoin listings. Its swift expansion has also exposed gaps in risk controls and compliance. In 2025, the exchange froze $3 million belonging to the trader known as White Whale before apologizing and releasing the funds in October that year.

On April 8, 2026, MEXC appointed former Bitget chief operating officer Vugar Usi as CEO. He plans to expand MEXC into an “everything trading” platform offering tokenized stocks, gold, silver and prediction markets. MEXC said its zero-fee model saved users $1.1 billion in 2025. CoinDesk Research put its year-end market share at 5%, while the company has made securing an EU MiCA license its top priority.