Bittrex Global to Halt All Trading in December as it Winds Down Operations

Crypto News
Crypto News

21 Nov 2023 7:33 AM

Bittrex Global has announced to wind down most exchange operations and trading activities in the coming weeks....

  • Bittrex Global will wind down most exchange operations and trading activities in the coming weeks.
  • Trading activity on Bittrex Global will be disabled from December 4, 2023.
  • Users will only be able to withdraw their assets after December 4.
  • U.S. dollar holdings cannot be withdrawn, and users are urged to convert their balances to euros or cryptocurrencies.
  • Bittrex advised users to withdraw funds promptly in case liquidators impose withdrawal constraints.
  • Other operations and features, including the Global Referral Program and promotion programs, will also cease.
  • Bittrex previously ceased its American operations in April due to regulatory challenges.
  • The company faced undisclosed challenges that led to the decision to halt operations globally.
  • Bittrex's daily trading volume has significantly reduced from $141 million in November 2021 to $5.1 million currently.
  • The company reached a $24 million settlement with securities regulators in August.

The article portrays a negative sentiment as it discusses the winding down of Bittrex Global's operations and the challenges faced by the company.

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You May Ask

When will Bittrex Global disable all trading activity on its exchange?What options do users have for withdrawing their assets after December 4?Why did Bittrex Global decide to wind down its operations globally?What was the daily trading volume on Bittrex Global approximately two years ago?What settlement did Bittrex Global reach with securities regulators in August?

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