Court Approves Bittrex’s Liquidation in USA

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A revised plan for bankruptcy and winding down operations in the United States has been approved by the court for cryptocurrency exchange Bittrex.

Judge Brendan Shannon provided a revised order that will result in the company being wound up in order to fulfill remaining creditor claims.

The court’s decision takes into account informal comments made by the SEC.

In response to regulatory uncertainty, Bittrex announced in April that it would cease operations in the United States.

The SEC then filed a lawsuit against the company for violating securities laws. Bittrex later filed for bankruptcy on May 8, stating that its assets and liabilities ranged from $500 million to $1 billion, with over 100,000 creditors.