The End of Bittrex: Crypto Exchange Platform Ceases Operations
After years of activity in the cryptocurrency ecosystem, Bittrex Global, once a major player in crypto exchange, announces the permanent suspension of its trading operations.
This decision comes months after Bittrex, the company’s American branch, declared bankruptcy in response to a complex regulatory environment in the United States.
In April, the US Securities and Exchange Commission (SEC) accused Bittrex of operating as an unregistered exchange. As a result, Bittrex filed for Chapter 11 protection in May and was fined $24 million.
Users Have Until December 4th to Withdraw Their Funds
Bittrex Global, based in Liechtenstein, stated that the shutdown process would begin with a suspension of trading activities starting on December 4th. Users have been urged to withdraw their funds as soon as possible. Conversion of assets into US dollars, euros, or cryptocurrencies is necessary before the closure to ensure withdrawals can be made. Bittrex Global also warned users not to make new deposits as they may be irretrievable.