Bittrex's U.S. Liquidation Plan Approved

Bittrex's U.S. Liquidation Plan Approved



Cryptocurrency exchange Bittrex has successfully received court endorsement for its updated bankruptcy plan, leading to the cessation of its operations in the United States.



Legal documents reveal that on Monday, in a Delaware court, Judge Brendan Shannon gave the green light for the company’s liquidation strategy, designed to settle outstanding debts with remaining creditors.



“The Court has decided to issue a revised Proposed Order, addressing the informal remarks from the SEC, as was verbally communicated during the Hearing,” the court filing articulated.



Bittrex found itself in a precarious position, filing for Chapter 11 bankruptcy protection in May, following allegations from the Securities and Exchange Commission (SEC) of operating an unlicensed exchange. By August, Bittrex reached a settlement with the SEC, agreeing to a


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#Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Regulations

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