Crypto exchange Bittrex Inc filed for bankruptcy protection on Monday, three weeks after the US Securities and Exchange Commission accused it of operating an unregistered securities exchange, Reuters reported.
Bittrex said in a bankruptcy court filing in the District of Delaware that the crypto exchange estimated it had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities.
The US branch of Bittrex announced in March that it would cease all operations by the end of April, with the company laying off 80 people in February.
Bittrex is the latest crypto entity to file for bankruptcy. Earlier in November last year, crypto exchange FTX filed for bankruptcy protection.
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.