Bittrex Global to Shut Down

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Last Updated on November 21, 2023 by Bitfinsider

According to a Monday announcement, cryptocurrency exchange Bittrex Global is closing down operations just months after its US unit was shut down.

The platform’s trading will cease on December 4, and the business has advised consumers to execute “all necessary transactions” before then, after which only withdrawals will be permitted. The exchange, which is regulated in Lichtenstein and Bermuda, did not provide an explanation for its decision.

The stoppage comes after Bittrex.US filed for bankruptcy in Delaware in May after the Securities and Exchange Commission (SEC) sued it and Bittrex Global for purportedly running a national securities exchange without the necessary authorization. Bittrex Global CEO Oliver Linch told CoinDesk that the SEC allegations would be fought “vigorously.” Bittrex.US ceased business in April and negotiated a $24 million settlement with the SEC in August.

“It is with great regret that we announce Bittrex Global’s decision to cease operations.” “We did not make this decision lightly, and we apologize for any inconvenience this may cause our valued customers,” the business added.

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