Bitcoin Africa has announced the resignation of chief executive Warren Wheatley, bringing an end to his tenure at the group while he continues to contest a R5-million administrative penalty imposed by the Financial Sector Conduct Authority (FSCA).
The JSE-listed company said in a statement on Tuesday that Wheatley resigned as an employee and CEO with effect from Monday, September 21 2026. The board has accepted his resignation.
Interim CEO remains in place
Wheatley had previously been placed on precautionary leave of absence.
Bitcoin Africa said Stafford Masie will continue serving as interim CEO while the board advances the process of appointing a permanent chief executive.
The company said the board remains focused on ensuring leadership continuity and the ongoing stability of the group.
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FSCA penalty
The resignation follows an FSCA enforcement action announced on August 24 2026.
The regulator imposed an administrative penalty of R5-million, including costs, on Wheatley for allegedly contravening Section 80(1)(a) of the Financial Markets Act.
According to the FSCA, Wheatley knowingly participated in a practice that created, or was likely to create, artificial trading activity and an artificial price in Altvest Capital shares between September 5 and 8 2022.
The authority ordered that the penalty be paid within 30 days and said interest would accrue on any unpaid amount.
Tribunal proceedings continue
Bitcoin Africa emphasised that Wheatley’s reconsideration application and related proceedings before the Financial Services Tribunal are personal to him and continue independently of the company.
The FSCA order notes that Wheatley has the right to seek reconsideration of the decision. Should the matter ultimately be upheld and the penalty remain unpaid, the regulator may file the order with a competent court, where it would have the effect of a civil judgment.
Separation from company
While Wheatley is no longer serving as CEO or an employee of Bitcoin Africa, the regulatory proceedings relating to the FSCA’s findings remain ongoing.
For investors, the resignation separates the company’s management from a matter that the board has explicitly characterised as personal to Wheatley, while the process to appoint a permanent chief executive continues.
- Bitcoin Africa has announced the resignation of chief executive Warren Wheatley, bringing an end to his tenure at the group while he continues to contest a R5-million administrative penalty imposed by the Financial Sector Conduct Authority (FSCA).
- The JSE-listed company said in a statement on Tuesday that Wheatley resigned as an employee and CEO with effect from Monday, September 21 2026.
- The board has accepted his resignation.
- Interim CEO remains in place Wheatley had previously been placed on precautionary leave of absence.
- Bitcoin Africa said Stafford Masie will continue serving as interim CEO while the board advances the process of appointing a permanent chief executive.
