Tag: Bittrex

Bittrex Global, a crypto exchange based in Liechtenstein, announced the cessation of its operations. The exchange has confirmed that it will halt all trading activities by December 4, marking a significant turn in its business trajectory. In an update released on November 20 on its website, Bittrex Global advised its users to convert their U.S. dollar holdings into either euros or cryptocurrencies before the December 4 deadline.

The U.S. Securities and Exchange Commission (SEC) confirmed a settlement with Bittrex Inc., a leading crypto trading platform, and its co-founder & ex-CEO, William Shihara, over allegations of operating without proper registrations. Bittrex Global GmbH, the international branch of Bittrex Inc., also settled charges for not registering as a securities exchange. While settling, Bittrex and Shihara haven't admitted or denied the SEC's claims.

On Monday, the U.S. entity of crypto exchange Bittrex filed a Chapter 11 bankruptcy filing and sought creditor protection, as reported by FinTelegram. The U.S. SEC filed a complaint against Bittrex in April 2023 for violating U.S. securities laws. The Shift reports that the U.S. entity and the Bittrex entities in Malta are included in the bankruptcy filing. Thus, the bankruptcy does not seem to be limited to the US, as announced by Bittrex.

The crypto exchange Bittrex announced that its U.S. entity, Bittrex Inc., applied for Chapter 11 bankruptcy. According to a bankruptcy case filed in Wilmington, Delaware, Bittrex’s financial assets and liabilities were both between $500 million and $1 billion. Customers are expected to be paid in full. The U.S. SEC filed a lawsuit against Bittrex and former CEO William Shihara charging that Bittrex operates an unregistered national securities exchange, broker, and clearing agency.

In a House hearing, Gary Gensler, the U.S. Securities and Exchange Commission (SEC) Chair, defended his agency’s crackdown on crypto markets, saying that he had never seen an industry so routinely break securities laws. Gensler’s approach has been called “regulation by enforcement," which would not be sufficient nor sustainable. His approach would drive innovation overseas and endanger the U.S. competitiveness, one Republican said.

The U.S. Securities and Exchange Commission (SEC) continued its crusade against crypto and charged crypto exchange operator Bittrex, Inc., a Delaware-registered company, and its co-founder and former CEO William Shihara for operating an unregistered national securities exchange, broker, and clearing agency. The SEC also charged Bittrex’s subsidiary, Bittrex Global GmbH, a company registered in Liechtenstein.

Istvan Cocron CEO and Founder of CLLB Cyber Fraud and Financial Crime Law - a report on behalf of a client.CLLB...

Crypto is continuing its success story in the investment world. Despite the many scams and fraudulent crypto-schemes and amid...