Crypto exchange Bittrex US, which has recently declared bankruptcy, has made an announcement about withdrawals.
Bittrex filed for bankruptcy in May, less than a month after the US Securities and Exchange Commission’s (SEC) accusations. Bittrex’s American arm, Bittrex US, has announced that it will offer withdrawals to its users starting tomorrow, following the Delaware bankruptcy court ruling. Bittrex, once one of the biggest names in crypto companies in the US, continues to publish detailed information about its bankruptcy, succumbing to regulatory sanctions.
Remarks Received from Judge Brendan Shannon of the Case
Judge Brendan Shannon, in his ruling announced yesterday, granted Bittrex US and its subsidiary and its affiliates permission to withdraw cryptocurrency holdings from the trading platform for their clients with unconditional and liquidated claims. However, the decision did not determine the value of assets or favor customer demands over government demands.
The announcement made by Bittrex US in the chaos environment where the regulatory pressures continue, gave some relief to the users. In addition, Bittrex, one of the favorite crypto exchanges of 2018-2019, continues to surprise many crypto investors with its current situation.
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