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Bittrex Crypto Exchange Files for Chapter 11 Bankruptcy Protection Following SEC Lawsuit

Bittrex, a popular cryptocurrency trading exchange, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware. This comes after the United States Securities and Exchange Commission (SEC) filed a lawsuit against it for allegedly operating an unregistered national securities exchange, clearing agency, and broker house. The bankruptcy filing covers different entities under Bittrex, including those based in Seattle, Malta, and Germany, but not the global entity based in Liechtenstein. The filing reveals that Bittrex has over 100,000 creditors, with OFAC topping the list with a claim of $24.2 million.

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