{"id":78466,"date":"2023-05-09T09:17:12","date_gmt":"2023-05-09T06:17:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78466"},"modified":"2025-09-11T05:13:25","modified_gmt":"2025-09-11T02:13:25","slug":"bittrex-files-for-bankruptcy-protection","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bittrex-files-for-bankruptcy-protection\/","title":{"rendered":"Bittrex files for bankruptcy protection"},"content":{"rendered":"<p>On May 8, the bitcoin exchange Bittrex filed for bankruptcy protection with a Delaware court in the United States. <a href=\\\"https:\/\/www.reuters.com\/markets\/deals\/crypto-exchange-bittrex-inc-files-bankruptcy-after-sec-complaint-2023-05-08\/\\\">Reuters<\/a> reports.<\/p>\n<p>According to the suit, the company&#8217;s assets and liabilities total between $500 million and $1 billion. The number of creditors exceeds 100,000.<\/p>\n<p>Two subsidiaries \u2014 Bittrex Malta Ltd. and Bittrex Malta Holdings Ltd. \u2014 filed similar petitions. According to the documents, the bankruptcy will not affect the international platform Bittrex Global.<\/p>\n<p>The exchange filed for bankruptcy less than a month after a <a href=\"https:\/\/forklog.com\/en\/news\/sec-sues-bittrex-and-bittrex-global\">complaint from the U.S. Securities and Exchange Commission (SEC)<\/a>. The regulator accused Bittrex of operating an unregistered securities exchange.<\/p>\n<p>In early April the company <a href=\"https:\/\/forklog.com\/en\/news\/bittrex-to-wind-down-u-s-operations\">announced a winding down of operations<\/a> in the United States due to \u201cregulatory uncertainty.\u201d The exchange asked clients to withdraw their funds by the end of the month.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cHaving previously announced that Bittrex, Inc. would cease all operations in the United States on April 30, we have decided to file for bankruptcy under Chapter 11. &#8230; Bittrex Global will continue to operate normally outside the United States. For clients who did not withdraw assets from the platform by the end of April: your funds remain safe, and our top priority is to return them in full,\u201d a company spokesperson said.<\/p>\n<\/blockquote>\n<p>Bittrex noted 16 clients with more than $1 million on their accounts, without naming them. The largest active account on the platform holds assets worth $14.6 million. The exchange plans to petition the court for a limited reopening of accounts.<\/p>\n<p>Earlier in May, the blockchain startup Everledger <a href=\"https:\/\/forklog.com\/en\/news\/tencent-backed-blockchain-startup-everledger-files-for-voluntary-bankruptcy-and-liquidation\">filed for voluntary bankruptcy and liquidation<\/a> after a failed attempt to raise funds from investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On May 8, the bitcoin exchange Bittrex filed for bankruptcy protection in a Delaware court.<\/p>\n","protected":false},"author":1,"featured_media":78467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1300,720,1166],"class_list":["post-78466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bankruptcy","tag-bittrex","tag-centralized-exchanges-cex"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78466"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78466\/revisions"}],"predecessor-version":[{"id":78468,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78466\/revisions\/78468"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78467"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}