Bittrex’s bankruptcy plan for U.S. operations receives court approval
Bittrex, a cryptocurrency exchange, has received approval from the bankruptcy court to close its US business. The bankruptcy judge approved Bittrex's bankruptcy plan at a hearing in Wilmington, Delaware, allowing the company to overcome its difficulties through a phased ending plan that will fully repay the remaining creditors.
Bittrex, based in Seattle, stated that the bankruptcy application will not affect Bittrex Global, which provides services to customers outside the United States. The company's non-US business is headquartered in Liechtenstein. Bittrex lawyer Patricia Tomasco stated at a court hearing in September that approximately 36,000 customers withdrew about $143 million in cryptocurrency during the bankruptcy period.