US cryptocurrency exchange Bittrex filed for bankruptcy yesterday, three weeks after the SEC accused it of operating an unregistered exchange.
The Seattle-based company ceased operations in the United States on April 30 and has reported the bankruptcy filing will not affect Bittrex Global, which serves customers outside the United States.
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Notably, the platform's non-US operations are based in Liechtenstein.
According to the bankruptcy petition filed in Wilmington, Delaware, Bittrex's assets and liabilities were in the range of $500-1 billion.
The company has reported it still holds cryptoassets of US customers who did not withdraw their funds by April 30.
According to Bittrex, the company intends to petition the bankruptcy court for a limited reopening of customer accounts so that cryptocurrencies can be distributed to customers.
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