### Bittrex has sought bankruptcy protection under Chapter 11 in the U.S. state of Delaware. This comes after the company's announcement a few months ago that it would cease its operations in the United States. Furthermore, Bittrex has been facing legal troubles, including a recent lawsuit filed against it by the Securities and Exchange Commission (SEC).

According to the bankruptcy petition submitted to the court, Bittrex's assets and liabilities both fall within the range of $500 million and $1 billion. This substantial amount signifies the magnitude of the company's financial struggles.



Despite the bankruptcy filing, Bittrex has assured that it still holds the cryptocurrency holdings of its United States customers who failed to withdraw their funds before the end of April. 



The cryptocurrency industry has witnessed a series of bankruptcy declarations recently, and Bittrex is now added to the list. Other notable companies that have succumbed to bankruptcy include FTX, as well as lenders like Celsius, Voyager, and BlockFi.



Bittrex Global, the international arm of the company, will not be affected by this bankruptcy filing. It will continue to operate normally, providing services to customers located outside of the United States.



The bankruptcy filing by Bittrex signifies a significant setback for the company, as it navigates through legal issues and financial difficulties. The fate of its United States operations remains uncertain, while the international business continues to operate independently. The cryptocurrency industry will closely observe how Bittrex manages its bankruptcy proceedings and its impact on the wider market.

Bittrex has sought bankruptcy protection under Chapter 11 in the U.S. state of Delaware. This comes after the company's announcement a few months ago that it would cease its operations in the United States. Furthermore, Bittrex has been facing legal troubles, including a recent lawsuit filed against it by the Securities and Exchange Commission (SEC).

Mon May 22 2023

Crypto Exodus Continues As Bittrex Succumbs To Chapter 11 Bankruptcy

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Mon May 22 2023 Crypto Exodus Continues As Bittrex Succumbs To Chapter 11 Bankruptcy

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Mon May 22 2023

Crypto Exodus Continues As Bittrex Succumbs To Chapter 11 Bankruptcy