Bittrex US, the now-defunct cryptocurrency exchange in the United States, has recently introduced a plan that permits American customers to withdraw crypto and fiat from the platform, provided they satisfy the required regulatory criteria. This withdrawal arrangement was approved on Tuesday by the U.S. bankruptcy court located in Delaware.
Cryptocurrency Exchange Bittrex US Enables Customer Withdrawals
On May 8, 2023, Bittrex US filed for Chapter 11 bankruptcy protection, citing liabilities ranging from $500 million to $1 billion and having over 100,000 creditors. Before the bankruptcy filing, the U.S. Securities and Exchange Commission (SEC) had sued Bittrex for running an unregistered exchange, broker, and clearing agency, and for listing unregistered crypto securities.
Bittrex sent emails to its U.S. customers this week, following approval from the U.S. bankruptcy court to enable withdrawals. However, there is a caveat: users must update their know-your-customer (KYC) information an
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