Bittrex to receive 250 BTC loan valued at $7M to start bankruptcy case
The loan's total worth could potentially increase to $19 million if a subsequent request is made.
Crypto exchange Bittrex files for bankruptcy after SEC complaint
Bittrex Inc, a cryptocurrency exchange, filed for bankruptcy protection on Monday, following allegations by the U.S. Securities and Exchange Commission (SEC) that it was running an unregistered securities exchange. This occurred three weeks after the SEC's accusation against Bittrex.
Crypto Giant Bittrex Files for Bankruptcy: A Fall from Grace
Seattle-based crypto exchange Bittrex filed for bankruptcy after being accused by the SEC of operating an unregistered securities exchange. Bittrex Global remains unaffected. The company plans to return U.S. customer funds and denies the SEC's allegations.
Coin ATM Radar Reports Decrease in Global Crypto ATM Numbers
Coin ATM Radar reports that over 3,600 crypto ATMs went inactive in March alone, representing a decline of 13.91% in the total number of crypto ATMs since the end of 2022. The decline in crypto ATMs has been happening in stages, with the first notable loss in September 2022 and the largest decline occurring in March 2023 due to the General Bytes hack. DeFi systems and regulatory changes could be to blame for the decline in Bitcoin ATMs.
Bittrex Pulls Out of US Market, Cites Regulatory Environment
Cryptocurrency exchange Bittrex is shutting down its US activities due to an unclear legal climate and increasing regulatory ambiguity. Users of the exchange have until April 30, 2023, to withdraw their verified money. The move comes after the New York Department of Financial Services refused to grant Bittrex a BitLicense earlier this year, and amid regulatory obstacles faced by other large bitcoin businesses. Bittrex Global, the company's non-US division, will continue to operate in the tax-friendly nation of Liechtenstein.
Anchorage Digital lays off 20% of staff as other crypto-friendly banks shutdown
On March 14, Bloomberg reported that Anchorage Digital, a bank specializing in cryptocurrency, will be reducing its workforce by approximately 20%.
Crypto payments platform ZPAE sues Bittrex for theft after botched listing
Bittrex is facing lawsuits in the UAE and its native Liechtenstein.
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