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Bittrex files for bankruptcy

A bit over a month after Bittrex announced it was closing US operations, and less than a month after the US SEC charged the company with operating an unregistered exchange, Bittrex has filed for Chapter 11 bankruptcy protection. According to court filings, the company has assets and liabilities both within the $500 million and $1 billion range, and has more than 100,000 creditors.

Bittrex used to be a much larger presence in the US, enjoying more than 20% of US market share in 2018. It has since dropped to below 1%.

The entity that filed for bankruptcy in the US is Bittrex, Inc., which is separate from Bittrex Global. "This announcement does not impact Bittrex Global, which will continue operations as normal for its customers outside the U.S.," said a Bittrex spokesperson.

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