{"id":530730,"date":"2023-05-09T16:40:31","date_gmt":"2023-05-09T16:40:31","guid":{"rendered":"https:\/\/wncen.com\/?p=530730"},"modified":"2023-05-09T14:25:01","modified_gmt":"2023-05-09T14:25:01","slug":"cryptocurrency-exchange-bittrex-files-for-bankruptcy-amid-sec-probe","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cryptocurrency-exchange-bittrex-files-for-bankruptcy-amid-sec-probe\/","title":{"rendered":"Cryptocurrency Exchange Bittrex Files For Bankruptcy Amid SEC Probe"},"content":{"rendered":"

The popular crypto trading exchange Bittrex filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware. This <\/span>move comes three weeks<\/span> after the United States Securities and Exchange Commission <\/span>filed a lawsuit<\/span><\/a> against it.<\/span><\/p>\n

The US SEC charged Bittrex and its co-founder and former CEO, William Shihara, for allegedly operating an unregistered national securities Exchange, clearing agency, and broker house.\u00a0<\/span>It also filed another charge against Bittrex Global.\u00a0<\/span><\/p>\n

Bittrex Trading Platform Bankruptcy Details<\/h2>\n

According to the filing, the crypto exchange has over 100,000 creditors. Its assets were between $500 million and $1 billion, while the liabilities were between $500 million and $1 billion.<\/span><\/p>\n

Related Reading: PEPE Token Futures Cast Gloom For Investors As Prices Plummet By 45%<\/a><\/div>\n

The bankruptcy filing covered different entities under Bittrex, including, Seattle-based entity Bittrex Inc, <\/span>Bittrex Global GmbH<\/span>, 2 entities in Malta, and an affiliated entity Desolation Holdings LLC. But Bittrex\u2019s global entity based in Liechtenstein was not part of the bankruptcy filing.\u00a0<\/span><\/p>\n

\n

\ud83d\udea8BREAKING: @BittrexExchange<\/a> has filed for Chapter 11 bankruptcy. <\/p>\n

The move comes less than a month after the @SECGov<\/a> charged Bittrex and its CEO for operating an unregistered national securities exchange, broker, and clearing agency.<\/p>\n

— Eleanor Terrett (@EleanorTerrett) May 8, 2023<\/a><\/p><\/blockquote>\n