Crypto exchange Bittrex files for bankruptcy after SEC complaint
Source: Reuters
2 minute read May 8, 2023 6:56 PM EDT Last Updated 2 days ago
Crypto exchange Bittrex files for bankruptcy after SEC complaint
By Dietrich Knauth
May 8 (Reuters) - Cryptocurrency exchange Bittrex Inc filed for bankruptcy protection on Monday, three weeks after the U.S. Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange.
Seattle-based Bittrex ceased operations in the United States on April 30, and it said the bankruptcy filing would not impact Bittrex Global, which serves customers outside the United States. The company's non-U.S. operations are based in Liechtenstein.
Bittrex's assets and liabilities were both between $500 million and $1 billion, according to a bankruptcy petition filed in Wilmington, Delaware court.
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The SEC sued Bittrex on April 17, alleging that former CEO William Shihara encouraged crypto asset issuers seeking to make their tokens available on the company's platform to delete public statements that could lead regulators to investigate those token offerings as securities.
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Read more: https://www.reuters.com/markets/deals/crypto-exchange-bittrex-inc-files-bankruptcy-after-sec-complaint-2023-05-08/
Non-paywalled link: https://archive.is/6qSEW
