Bankruptcy Filed By Cryptocurrency Exchange Bittrex

Bittrex filed for bankruptcy in the US weeks after being charged by the SEC and months after announcing its departure.

Bittrex said in March that it would close in April due to the “current US regulatory and economic environment”.

The SEC charged the firm and co-founder and former CEO William Shihara with operating an unregistered securities exchange, broker, and clearing agency last month.

The corporation filed Chapter 11 bankruptcy in Delaware federal court, claiming more than 100,000 creditors and $500 million to $1 billion in liabilities and assets.

“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,” says a statement.

Bittrex Global will continue serving non-US consumers.

The company joins FTX, Celsius, Voyager, and BlockFi in declaring bankruptcy.