Liechtenstein-based Bittrex Global today announced it will wind down operations, ceasing all trading on its exchange by December 4. The move follows a series of regulatory challenges that have hindered the crypto exchange, including the closure of its U.S. operations earlier this year. In March, Bittrex shuttered its U.S. exchange because it was not “economically viable” to continue doing business following a lawsuit and $29 million settlement with the SEC over alleged securities laws violations.
Bittrex Global has discontinued its referral program and ceased all promotions. The company has promised to support its customers during the wind-down process, making its team available to assist users with questions or concerns.
This news comes as a disappointment to those who have been using Bittrex, as it was a top 100 cryptocurrency exchange in the world with a 24-hour trading volume of just under $6 million. However, with the current regulatory environment surrounding crypto proving to be a challenge, it was not economically viable for the exchange to continue operations.
All customers are encouraged to log into their account and withdraw assets as soon as possible.
You can read more about this topic here: Decrypt: Crypto Exchange Bittrex Global Shuts Down Following Battle With SEC