Are you aware that Bittrex Global and Bittrex are different?
Bittrex Global is on US.
Crypto Exchange Bittrex Global Shuts Down Following Battle With SEC
https://decrypt.co/206761/crypto-bittrex-global-shuts-down-sec
According into the report.
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.
Source
So this is again talking about SEC issues. Im not really that shocked on this one.
Topic: Bittrex shutting down: What can exchange do differently to avert this trend. - page 3. (Read 298 times)
November 21, 2023, 03:46:22 PM
November 21, 2023, 03:40:07 PM
Bittrex shutting down: What can exchanges do differently to avert this trend.
Exactly one year ago since the unfortunate collapsed of FTX, Bittrex has also announced the closure of its services after nearly a decade of operation effective December 4th 2023.
The reason for the closure has not been made public as of this time but it's worthy to note that the exchange U.S arm of operation filed for bankruptcy in May following a legal indictment by the security and exchange commission (SEC) for operating a security exchange without the right approval but one good news is that users assets/funds are safe and are available for withdrawal as disclosed by the exchange official X platform. A different scenario compared to that of FTX.
This news further posses that there are still significant risk accompanied by this evolving industry but the question is what can exchanges do to ensure that they are able to stand the test of time just like the traditional financial institution.
There are quite a few other exchanges that has proven to be reliable and dependable on the long run because they have been investing heavily in there ecosystem but this kind of news leaves one to wonder if such scenario won't later occur in future.
In the wake of Bittrex users seeking another exchanges, which exchange do you recommend? and do you think they have what it takes to stand the test of time.
Exactly one year ago since the unfortunate collapsed of FTX, Bittrex has also announced the closure of its services after nearly a decade of operation effective December 4th 2023.
The reason for the closure has not been made public as of this time but it's worthy to note that the exchange U.S arm of operation filed for bankruptcy in May following a legal indictment by the security and exchange commission (SEC) for operating a security exchange without the right approval but one good news is that users assets/funds are safe and are available for withdrawal as disclosed by the exchange official X platform. A different scenario compared to that of FTX.
This news further posses that there are still significant risk accompanied by this evolving industry but the question is what can exchanges do to ensure that they are able to stand the test of time just like the traditional financial institution.
There are quite a few other exchanges that has proven to be reliable and dependable on the long run because they have been investing heavily in there ecosystem but this kind of news leaves one to wonder if such scenario won't later occur in future.
In the wake of Bittrex users seeking another exchanges, which exchange do you recommend? and do you think they have what it takes to stand the test of time.
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