{"id":20727,"date":"2023-05-09T12:28:17","date_gmt":"2023-05-09T12:28:17","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bittrex-us-files-for-chapter-11-bankruptcy\/"},"modified":"2023-05-09T12:28:17","modified_gmt":"2023-05-09T12:28:17","slug":"bittrex-us-files-for-chapter-11-bankruptcy","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bittrex-us-files-for-chapter-11-bankruptcy\/","title":{"rendered":"Bittrex US files for Chapter 11 Bankruptcy"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683618026900-fb49ac36-474b-4e14-81ee-59c19256259d-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683618026900-fb49ac36-474b-4e14-81ee-59c19256259d-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683618026900-fb49ac36-474b-4e14-81ee-59c19256259d-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683618026900-fb49ac36-474b-4e14-81ee-59c19256259d-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Bittrex has filed for bankruptcy just over a month after the SEC filed a lawsuit against it.<\/li>\n<li>The exchange has listed liabilities and assets totalling $1 billion apiece.<\/li>\n<li>The development comes days after Bittrex US informed its users to withdraw funds.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/exchanges\/bittrex\/\">Bittrex\u00a0<\/a>cryptocurrency exchange has officially filed for Chapter 11 bankruptcy protection in the US. The bankruptcy filing comes barely a month after the US Securities and Exchange Commission (SEC) charged Bittrex for repeatedly breaking the security regulations in the country.<\/p>\n<p>In the Bankruptcy filing submitted on May 8 to the United States Bankruptcy Court for the District of Delaware, Bittrex reported that it has $500 million to $1 billion in assets, $500 to $1 billion in liabilities and more than 100,000 creditors.<\/p>\n<p>The bankruptcy protection filing does not involve the Liechtenstein-based global trading exchange firm Bittrex Global GmbH. It only applies to Bittrex US and its affiliates.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We&#8217;d like to provide some more context regarding Bittrex US\u2019s decision to file for Chapter 11.<\/p>\n<p>\u2014 Bittrex Global (@BittrexGlobal) <a href=\"https:\/\/twitter.com\/BittrexGlobal\/status\/1655874400657219584?ref_src=twsrc%5Etfw\">May 9, 2023<\/a><\/p>\n<\/blockquote>\n<h2>SEC\u2019s lawsuit against Bittrex<\/h2>\n<p>The US SEC last month filed a lawsuit against Bittrex in the Federal court alleging that the exchange violates violated the securities regulations from 2017 through to 2022 generating at least $1.3 billion in revenue.<\/p>\n<p>The SEC alleges that Bittrex occasionally operated as an exchange, brokerage, and clearing agency without having filed the necessary paperwork. The lawsuit also classifies three tokens (<a href=\"https:\/\/coinjournal.net\/algorand\/\">ALGO<\/a>, OMG, and <a href=\"https:\/\/coinjournal.net\/dash\/\">DASH<\/a>) in specific as unregistered securities.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bittrex-us-files-for-chapter-11-bankruptcy\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bittrex has filed for bankruptcy just over a month after the SEC filed a lawsuit against it. The exchange has listed liabilities and assets totalling $1 billion apiece. The development comes days after Bittrex US informed its users to withdraw funds. Bittrex\u00a0cryptocurrency exchange [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":20728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20727"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=20727"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20727\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/20728"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=20727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=20727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=20727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}