Crypto Exchange Bittrex Global to Shut Down

CoinDeskPolicyPublicado em 2023-11-20Última atualização em 2023-11-21

Resumo

All trading on the platform will be disabled on Dec. 4, several months after Bittrex's U.S. arm filed for bankruptcy and stopped operations.

Crypto exchange Bittrex Global is winding down operations just months after its U.S. arm was shut down, according to a Monday announcement.

Trading on the platform will stop Dec. 4, and the company urged customers to complete "all necessary transactions" by then, after which only withdrawals will be available. The exchange, which is regulated in Lichtenstein and Bermuda, did not give a reason for the decision.

STORY CONTINUES BELOW

Recommended for you:

The shutdown follows Bittrex.US' May filing for bankruptcy in Delaware after it and Bittrex Global were sued by the Securities and Exchange Commission (SEC) for allegedly operating a national securities exchange without the right approvals. Bittrex Global CEO Oliver Linch had told CoinDesk that it would fight the SEC charges "vigorously." Bittrex.US shuttered operations in April, and in August reached a $24 million settlement with the SEC.

"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," the company said.

Edited by Sheldon Reback.

Leituras Relacionadas

The Largest Wall Street Bank, Previously Considered a Cryptocurrency Foe, Confidently Enters the Crypto Sector!

The approach of the US banking sector towards stablecoins is rapidly evolving. Banks, including JPMorgan Chase, are now exploring the launch of their own stablecoins despite previous skepticism and a preference for tokenized deposit solutions. While JPMorgan is reportedly in early-stage discussions and has not begun active development—citing no current plans but openness to future client demand and regulatory developments—it already possesses related infrastructure like JPM Coin. This shift comes as banks, having initially lobbied against crypto firms over fears stablecoins could compete with traditional deposits, are reconsidering their stance. The growing interest from major corporations like Visa, BlackRock, Google, and DoorDash in the stablecoin ecosystem is a key driver. Banks now view issuing stablecoins as a potential defensive strategy to protect their payment and deposit business models. Meanwhile, other major financial institutions, including Bank of America, Wells Fargo, and Santander, are reportedly progressing on a joint initiative to create a globally usable stablecoin. This proposed stablecoin would initially target commercial clients with a US dollar base, with plans to later incorporate euros and other G7 currencies. Regional use cases are expected to vary.

cryptonews.ruHá 14m

The Largest Wall Street Bank, Previously Considered a Cryptocurrency Foe, Confidently Enters the Crypto Sector!

cryptonews.ruHá 14m

A Major Altcoin Prepares for a Sharp Increase in Token Burn

Two governance proposals within the Solana ($SOL) ecosystem, SIMD-550 and SIMD-553, could significantly alter the network's token supply dynamics in coming years. According to 21Shares, if implemented together, they could reduce the total $SOL issuance by approximately $1.4-1.5 billion over a six-year period. The SIMD-550 proposal aims to double Solana's annual inflation reduction rate from 15% to 30%. If adopted, the network's long-term goal of reaching a final inflation rate of 1.5% would be achieved around the first half of 2029, instead of roughly 2032. However, this faster reduction in issuance would also lower staking yields, potentially to around 2.25% by the third year. The SIMD-553 proposal, already approved and integrated into the codebase, introduces a new fee mechanism for computational units consumed in transactions. Currently, about 600-800 $SOL are burned daily on Solana. With SIMD-553, this is estimated to surge to between 7,500 and 9,000 $SOL per day—a roughly tenfold increase in the burn rate. Combined, these measures—faster inflation reduction and dramatically increased token burning—could lead to the projected multi-billion dollar decrease in net token supply. However, uncertainties remain: SIMD-550 is still subject to final voting, and the actual impact of SIMD-553 will depend on the specific fee structure for validators.

cryptonews.ruHá 1h

A Major Altcoin Prepares for a Sharp Increase in Token Burn

cryptonews.ruHá 1h

Chainalysis estimates $457B in taxable crypto activity, says CARF misses most

A Chainalysis report estimates that potentially taxable onchain cryptocurrency activity reached at least $457 billion globally in 2025, with the U.S. accounting for $112.6 billion. The Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF), which began data collection in 2026 across 48 jurisdictions, is designed to capture transaction data from crypto intermediaries. However, Chainalysis finds CARF covers only 14% of the identified onchain taxable activity. The remaining 86%, including decentralized exchange trading, peer-to-peer transfers, and onchain income, falls outside CARF's scope as it largely targets centralized service providers. Experts note that decentralized finance (DeFi) activities remain outside the reporting perimeter due to the lack of centralized operators, though this may change as regulators develop new rules.

cointelegraphHá 1h

Chainalysis estimates $457B in taxable crypto activity, says CARF misses most

cointelegraphHá 1h

TxFlow L1 strengthens its infrastructure with OpenZeppelin audit as its on-chain ecosystem expands

TxFlow L1 has completed an independent security audit of its bridge contract by blockchain security firm OpenZeppelin. The audit, covering a critical component for moving capital between external networks and TxFlow L1, resulted in zero critical or high-severity findings, with one medium-severity issue resolved during the process. This review is part of TxFlow's commitment to integrating external security expertise as it develops its financial infrastructure and ecosystem, which includes the TxFlow DEX and the upcoming Builder Code initiative. TxFlow L1 is a blockchain designed specifically for financial markets, aiming to consolidate trading, liquidity, and various financial applications like perpetuals and spot markets onto one chain through its TIP Liquidity Standards. The network's bridge infrastructure currently supports deposits and withdrawals across multiple chains including Arbitrum One, Ethereum, and Solana.

cointelegraphHá 2h

TxFlow L1 strengthens its infrastructure with OpenZeppelin audit as its on-chain ecosystem expands

cointelegraphHá 2h

A Crucial Event is Approaching, Pay Attention to Friday: This Could Be the Fed's Most Important Event This Year

Federal Reserve Chair Kevin Warsh is preparing to deliver one of his most significant speeches this week at the Jackson Hole symposium. Markets and Fed officials are focused on a fundamental question: Is persistently high U.S. inflation due to temporary shocks like tariffs and the war with Iran, or is the economy still too strong from a demand perspective? The answer could determine whether the Fed will raise interest rates in the coming period. Investors will scrutinize Warsh's Friday speech for clues about his economic assessment and the conditions under which he might tighten monetary policy. The outlook is interpreted through two scenarios. One suggests inflation has exceeded the Fed's 2% target for over a year due to temporary shocks and may recede spontaneously. The other warns these events mask deeper economic imbalances, where strong demand allows companies to keep raising prices, potentially necessitating rate hikes. While recent softer inflation data has eased pressure for a September rate hike, concerns remain that the Iran war, new tariffs, and a surge in AI investment could exert lasting upward pressure on prices. Divisions within the Fed are growing, with some officials pushing for further tightening, citing robust consumer spending and labor demand, while others believe price pressures may ease on their own. A notable feature of Warsh's tenure has been his reduced guidance to markets, arguing central bankers talk too much. However, this reluctance to share his own views may be making it harder to build consensus, as evidenced by three dissenting votes for a rate hike last month—the highest in nearly a decade. Market reactions are being closely watched. Following the July meeting, the yield on the 30-year U.S. Treasury note rose to its highest level since 2007, suggesting investors believe the Fed might tolerate slightly higher near-term inflation but could require more significant future rate increases. Therefore, the Jackson Hole speech is crucial not only for near-term rate expectations but also for understanding how Fed policy communication will be shaped under Warsh's leadership.

cryptonews.ruHá 2h

A Crucial Event is Approaching, Pay Attention to Friday: This Could Be the Fed's Most Important Event This Year