Cryptocurrency exchange Bittrex files for bankruptcy | coindesk JAPAN | Coindesk Japan

Crypto exchange Bittrex filed for bankruptcy on May 8. It was sued by the U.S. Securities and Exchange Commission (SEC) a few weeks ago, and a few months ago it announced it would scale back its U.S. operations.

Bittrex has more than 100,000 creditors and estimated liabilities and assets ranging from $500 million to $10, according to filings tweeted by Randall Reese, who runs bankruptcy information site Chapter 11 Dockets. billion dollars.

Bittrex laid off 80 people in February and announced in March that it would close all operations by the end of April. Bittrex Global, which operates outside the United States, is not affected.

Despite announcing its withdrawal from the US, the SEC sued Bittrex in mid-April for operating a stock exchange, broker and clearing house. The SEC also sued former Bittrex CEO Bill Shihara and Bittrex Global. Bittrex Global CEO Oliver Linch said in April that he plans to fight the SEC in court, but a bankruptcy filing could make it difficult.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: Nikhilesh De/CoinDesk
｜Original: US Crypto Exchange Bittrex Files for Bankruptcy in Delaware