Bittrex Crypto Exchange, one of the largest cryptocurrency exchanges in the U.S., will end its local services following the court approval.
On October 30, 2023, Judge Brendan Shannon of the Delaware Bankruptcy Court approved Bittrex’s Chapter 11 Plan of Liquidation. The approval will allow Bittrex to withdraw its business operations from the U.S. states where it previously operated, including Seattle, two locations in Malta, and its affiliated entity, Desolation Holdings LLC.
The court ruling also allows for the exchange’s liquidation proposal. According to the legal document, Bittrex agreed to make certain modifications to address “informal comments from the U.S. Securities and Exchange Commission.”
The court filing noted, “As stated on the record at the Hearing, the Court ruled that it would enter a revised Proposed Order (the “Revised Order”), which resolves the SEC’s informal comments.”
