Bittrex declares itself bankrupt

The centralized Bittrex exchange has decided to file for bankruptcy. Yesterday, a corresponding document was sent to the court located in Delaware. This information was reported by Reuters.

Details about this

The statement states that assets with liabilities are in the range of 0.5-1 billion dollars. At the same time, the company has over 100 thousand creditors.

Subsidiaries also decided to declare their insolvency. However, according to the documents, the procedure will not affect Bittrex Global – the main platform that operates internationally.

The platform decided to declare its insolvency after it received a lawsuit from the SEC office. It decided to accuse the trading platform of managing an exchange that deals with securities by providing relevant services.

Last month, the exchange announced that it was ceasing to provide services in the United States. The reason was called the uncertainty of the regulator. Therefore, she asked users to withdraw their funds from the exchange's accounts by the end of April.

Representatives of the exchange noted that they have 16 users with more than $ 1 million on their balance. They didn't give names. However, the largest of them is the balance of more than $14.5 million. Therefore, the exchange wants to get a limited re-opening of accounts for users.

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