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Bittrex.US has decided to cease operations a few months after its bankruptcy filing and cessation of activities. The company plans to end trades on December 4 and is informing its customers to complete all “necessary transactions.” The platform will only allow its customers to withdraw funds, and the exchange regulated in Liechtenstein and Bermuda has not made any announcements regarding the reason for the decision.
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Bittrex Global‘s decision comes after the United States Securities and Exchange Commission (SEC) filed a lawsuit accusing Bittrex.US and Global of operating a national securities exchange without the necessary approvals and the bankruptcy filing of Bittrex.US.
Bittrex.US filed for bankruptcy in May after facing charges from the SEC for operating an unregistered securities exchange. Global’s CEO, Oliver Linch, previously stated that they would “strongly” oppose the charges. Bittrex.US ceased operations in April and reached a $24 million agreement with the SEC in August.
In an announcement, the company stated, “We deeply regret that we had to make the decision to end its operations. We did not take this decision lightly and understand the potential impacts on our customers.”
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