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Finance

Crypto Exchange Bittrex Global to Shut Down

All trading on the platform will be disabled on Dec. 4, several months after Bittrex's U.S. arm filed for bankruptcy and stopped operations.

By Sandali Handagama
AccessTimeIconNov 21, 2023 at 9:05 a.m. UTC
(Nikhilesh De/CoinDesk)

(Nikhilesh De/CoinDesk)

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Crypto exchange Bittrex Global is winding down operations just months after its U.S. arm was shut down, according to a Monday announcement.

Trading on the platform will stop Dec. 4, and the company urged customers to complete "all necessary transactions" by then, after which only withdrawals will be available. The exchange, which is regulated in Lichtenstein and Bermuda, did not give a reason for the decision.

The shutdown follows Bittrex.US' May filing for bankruptcy in Delaware after it and Bittrex Global were sued by the Securities and Exchange Commission (SEC) for allegedly operating a national securities exchange without the right approvals. Bittrex Global CEO Oliver Linch had told CoinDesk that it would fight the SEC charges "vigorously." Bittrex.US shuttered operations in April, and in August reached a $24 million settlement with the SEC.

"It is with great regret that we announce that Bittrex Global has decided to wind down its operations. This decision was not made lightly, and we understand the inconvenience it may have on our valued customers," the company said.

Edited by Sheldon Reback.


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Sandali Handagama
Sandali Handagama

Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She does not own any crypto.

Follow @iamsandali on Twitter

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