The post Bittrex’s Shocking Downfall: The Unfiltered Truth appeared first on Coinpedia Fintech News
In a shocking twist, Bittrex, a leading US cryptocurrency exchange, has filed for Chapter 11 bankruptcy after the SEC accused it of running an unregistered securities exchange. But Bittrex Global, the non-US branch, stands its ground and assures customers their funds are safe. So what happened to Bittrex, let us recap…
Why did Bittrex file for Bankruptcy?
Bittrex filed for bankruptcy protection in Wilmington, Delaware, after the SEC alleged that it ran an unregistered securities exchange. The company shut down its US operations on April 30 and claimed its assets and obligations were valued between $500 million and $1 billion. Bittrex denied the SEC’s allegations, asserting that the crypto assets on its platform were not securities or investment contracts.
Yes, we filed chap 11. Yes, we still have 100% of all customer funds. Yes, there will be a claims process through the bankrup
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