April

<a href="https://cryptoslate.com/companies/bittrex/" rel="noopener noreferrer nofollow">Bittrex Global</a> announced that it will end most exchange operations and trading activity in the coming weeks in an announcement published on <a href="https://bittrexglobal.com/" rel="noopener noreferrer nofollow">Nov. 20</a>.
The company wrote:
<blockquote>
 “It is with great regret that we announce that Bittrex Global has decided to wind down its operations. This decision was not made lightly, and we understand the inconvenience it may have on our valued customers.”
</blockquote>
The company said that starting Dec. 4 at 6:00 p.m. UTC, all trading activity on its exchange will be disabled, and client relationships will be terminated.
Bittrex said that users can only withdraw assets after that date. It noted that users will not be able to withdraw U.S. dollar holdings and said that users who wish to withdraw funds must convert their balances to euros (EUR) or crypto before Dec. 4.
It noted that although there is no withdrawal deadline, users should withdraw funds as soon as possible if liquidators impose such a deadline.
Bittrex said that it will also wind down other operations and features. The company said that it will end its Global Referral Program and promotion programs immediately. It also told users not to make any deposits and warned that any deposits may be lost.
<h2 id="total-shutdown-began-with-u-s-closures">Total shutdown began with U.S. closures</h2>
Bittrex announced plans to halt American operations <a href="https://cryptoslate.com/bittrex-to-halt-us-operations-by-end-of-april/" rel="noopener noreferrer nofollow">around April</a> due to regulatory challenges in the country. It also <a href="https://cryptoslate.com/bittrex-files-for-us-bankruptcy-will-not-halt-global-operations/" rel="noopener noreferrer nofollow">filed for bankruptcy</a> in the U.S. in May. The company said at the time that it would continue to operate its global exchange.
Bittrex did not identify the issues that led it to halt its operations more broadly today. Regardless, the company’s situation has developed in recent months in ways that may have affected its global arm. In August, the company reached a <a href="https://cryptoslate.com/sec-settles-with-bittrex-and-its-ex-ceo-for-24m-following-scrubbing-charges/" rel="noopener noreferrer nofollow">$24 million settlement</a> with securities regulators concerning both Bittrex Global and its U.S. counterpart.
Reduced trading volumes may also be part of the reason that the company has chosen to cease operations. Current data from CoinGecko indicates that Bittrex Global has a fairly modest daily trading volume of $5.1 million. By contrast, approximately two years ago, on Nov. 30, 2021, the company saw over $141 million in daily trading volume.
Additionally, the company’s U.S. wind-down was <a href="https://www.reuters.com/legal/litigation/bittrexs-us-wind-down-approved-bankruptcy-court-2023-10-30/" rel="noopener noreferrer nofollow">approved in bankruptcy courts</a> at the end of October, possibly leaving the firm to address its global operations in recent weeks.
The post <a href="https://cryptoslate.com/bittrex-global-to-halt-all-trading-in-december-as-closure-extends-globally/" rel="noopener noreferrer nofollow">Bittrex Global to halt all trading in December as closure extends globally</a> appeared first on <a href="https://cryptoslate.com" rel="noopener noreferrer nofollow">CryptoSlate</a>.

Bittrex Global to halt all trading in December as closure extends globally

Table of Contents

CryptoSlate

Other articles published on Nov 20, 2023

Luxor Unveils Innovative Logistics Service for Global Bitcoin Mining Hardware Shipping

Argentine Presidential Election Ignites Bitcoin Surge: Javier Milei’s Victory Spurs Crypto Optimism

McHenry and Lummis Lead Bipartisan Push for Regulatory Clarity

THORChain (RUNE) Shows Signs of Recovery Amid Bearish Trend

Cryptocurrency Law is Coming to Parliament!

Bitcoin ETF Rumors Ready BTCS Community For Next Bonus Event

Join our free newsletter for daily crypto updates!