Shock resignations and suspensions of CEO and other directors at JSE-listed company

Africa Bitcoin Corporation CEO Warren Wheatley and other directors resigned from certain positions after the Financial Sector Conduct Authority (FSCA) disbarred them.

The company announced this development in the Stock Exchange News Service (SENS) announcement on Tuesday, 1 September 2026, after the market closed.

The FSCA has issued decisions affecting three executives at the Africa Bitcoin Corporation: Warren Wheatley, Akshay Karan, and Tatum Wheatley.

• Warren Wheatley is the chief executive officer (CEO) and executive director of the company.

• Akshay Karan is the chief investment officer (CIO) of the company.

• Tatum Wheatley, Warren Wheatley’s wife, is the head of the company’s media and investor relations.

The FSCA decisions include debarment orders that restrict them from providing or being involved in the provision of financial products or financial services.

These individuals may also not act as key persons of financial institutions or provide services to financial institutions.

The FSCA decisions were communicated confidentially to the Individuals and have not, as at the date of this announcement, been published by the FSCA. 

They will dispute the FSCA’s findings and apply to the Financial Services Tribunal (Tribunal) for reconsideration and suspension of the FSCA decisions.

However, no order suspending the operation of the FSCA decisions has been granted by Tuesday, 1 September 2026. Accordingly, the FSCA decisions remain effective. 

The Africa Bitcoin Corporation said that the FSCA decisions were not issued against any entity within the group.

There was also no finding, administrative penalty or debarment order imposed on any entities within the company.

Change in leadership at the Africa Bitcoin Corporation

Africa Bitcoin Corporation said that the FSCA decisions have immediate implications for the group.

Accordingly, and as a precautionary measure, the board has placed Wheatley and Karan on precautionary leave of absence from their CEO and CIO roles.

They are also suspended from all group executive, management, advisory, operational and decision-making responsibilities.

Similarly, the services provided by Tatum Wheatley through her consulting business have been suspended, subject to the applicable services agreement.

These measures took effect on 31 August 2026 for an initial one-month period, subject to board review.

Warren Wheatley has also resigned as a director of Africa Bitcoin Corporation, with effect from 31 August 2026.

Additionally, Warren Wheatley, Akshay Karan, and Tatum Wheatley have resigned as directors of the Altvest Credit Opportunities Fund (ACOF)

The Altvest Credit Opportunities Fund is a wholly owned subsidiary of the Africa Bitcoin Corporation.

Stafford Masie, an executive director of Africa Bitcoin Corporation and Director of Bitcoin Strategy, assumed the role of Interim CEO.

Masie will also oversee the group’s executive arrangements relating to Altvest Credit Opportunities Fund Limited (ACOF).

“These measures are precautionary and non-disciplinary, without prejudice to applicable rights and remedies,” the company said.

“They do not constitute a determination by the board regarding the merits of the FSCA findings or the Individuals’ challenges to the FSCA decisions.”