Key Point
- Bittrex filing for bankruptcy comes weeks after the exchange and its executives were slammed with a lawsuit for violating securities law
Just when we thought bankruptcy has shifted from the crypto industry to the banking sector, Bittrex exchange reset our thoughts.
Bittrex Files for Chapter 11 Bankruptcy
It seems to be a while since the word “creditors protection” has surfaced in the crypto space, well, here we are again, with Bittrex bringing it back to our hearing.
According to a Monday filing, the Bittrex exchange has joined the list of crypto-related firms that filed for creditors ’protection.
Per the filing, the total assets and liabilities listed by Bittrex amounted to roughly $1 billion.
This is coming weeks after the exchange and its executives were accused by the US Securities and Exchange Commission of violating US federal laws.
Prior to the accusation, the exchange had already suspended operations in the US, citing unhealthy regulations in the country.
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