Crypto Exchange Bittrex Enters Chapter 11 Bankruptcy Protection Following SEC Lawsuit

Bittrex Inc., the U.S.-based cryptocurrency exchange, has filed for Chapter 11 bankruptcy protection in Delaware after being sued by the U.S. Securities and Exchange Commission for failing to register with the regulator. The exchange reportedly has over 100,000 creditors and liabilities ranging from $500 million to $1 十億.

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Bittrex Bankruptcy Filing Reveals Over 100,000 Creditors and $1 Billion in Liabilities

Bittrex Inc. filed for Chapter 11 bankruptcy in Delaware on Monday, while its parent company Bittrex Global will continue to operate outside the United States. This development comes after the exchange 発表した its decision to sunset U.S. operations in early April. By mid-month, アメリカ. 証券取引委員会 (SEC) sent the company a Wells notice.

4月に 17, 2023, the SEC took action against the exchange by charging it for operating an unregistered exchange, clearing agency, and broker. The lawsuit also classified ああ、神様, ALGO, と DASH as “unregistered securities.” Recently, Randall Reese from Chapter 11 Dockets 明らかに that the crypto platform has 100,000 債権者. To keep them informed, the company has enlisted the help of Omni Agent Solutions to provide regular email and website updates.

​​The Bittrex Chapter 11 filing reveals assets and liabilities ranging from $500 million to $1 十億. さらに, Bittrex Global’s two other subsidiaries, Bittrex Malta Holdings Ltd. and Bittrex Malta Ltd., have also filed for bankruptcy protection. 私たち. customers who used the crypto exchange were instructed to withdraw their funds by the end of April. 現在, it remains unclear who the company’s largest creditors are and how long the case will last. In response to the situation, Bittrex Inc., based in Seattle, released a statement で 6:30 午後. (ET).

“Having previously announced that Bittrex, Inc. would be ceasing all operations in the U.S. effective April 30th, we have now made the decision to file Chapter 11 bankruptcy in federal court in Delaware,” Bittrex disclosed. “This announcement does not impact Bittrex Global, which will continue operations as normal for its customers outside the U.S. For those customers who did not withdraw their funds from the platform prior to the end of April, your funds remain safe and secure, and our main priority is to ensure that our customers are made whole.”

このストーリーのタグ
bankruptcy protection, Bittrex Global, Bittrex Inc., 章 11 倒産, 債権者, 暗号通貨取引所, liabilities, sec lawsuit, 私たち. オペレーション, unregistered exchange, unregistered securities, withdrawal of funds

What do you think the future holds for Bittrex Inc. in light of this bankruptcy filing and SEC lawsuit?

ジェイミー・レッドマン

Jamie Redman は、Bitcoin-Tidings.com News のニュース リードであり、フロリダに住む金融技術ジャーナリストです。. レッドマンは以来、暗号通貨コミュニティの積極的なメンバーです。 2011. 彼はビットコインに情熱を持っています, オープンソース コード, および分散型アプリケーション. 9月以降 2015, レッドマンはより多くのことを書いています 7,000 Bitcoin-Tidings.com の記事 今日出現している破壊的なプロトコルに関するニュース.




画像クレジット: シャッターストック, Pixabay, ウィキ・コモンズ

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