Business News/ Markets / Cryptocurrency/  Crypto exchange Bittrex files for bankruptcy after SEC complaint

Crypto exchange Bittrex Inc on Monday filed for bankruptcy protection, three weeks after the US Securities and Exchange Commission accused it of operating an unregistered securities exchange, Reuters reported.

The Crypto exchange estimated that it had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities as part of bankruptcy proceedings, Bittrex said in a bankruptcy court filing at District of Delaware.

The US branch of Bittrex had announced in March that it would end all operations by the end of April, the company had layed off 80 people in February.

Bittrex is the latest crypto entity to file for bankruptcy. Earlier in November last year crypto exchange FTX filed for bankruptcy proctection.



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Updated: 09 May 2023, 03:56 AM IST
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