In a recent announcement, the cryptocurrency exchange Bittrex Global stated that it is closing down operations shortly after closing its U.S. arm.
The platform’s trading will cease on December 4; customers are advised to finish “all necessary transactions” by that date, as only withdrawals will be permitted thereafter. Bermuda and Lichtenstein-regulated exchange did not provide an explanation for its decision.
The shutdown comes after Bittrex.US filed for bankruptcy in Delaware in May, following a lawsuit brought by the Securities and Exchange Commission (SEC) against it and Bittrex Global for allegedly running a national securities exchange without the necessary authorizations. Oliver Linch, CEO of Bittrex Global, had stated to CoinDesk that the company would “vigorously” contest the SEC charges. After ceasing operations in April, Bittrex.US settled with the SEC for $24 million in August.
We announce with deep regret that Bittrex Global has made the decision to cease operations. We understand the inconvenience this decision may cause our valued customers, and we did not make this decision lightly,” the company stated.