After its US branch declared bankruptcy earlier this year, Bittrex Global has announced that it will be closing down and is urging its customers to withdraw their funds as soon as possible.
The company expressed regret over this decision, acknowledging the inconvenience it may cause to their loyal customers.
Bittrex Global CEO Oliver Linch had previously reassured users of the exchange’s commitment to non-US regulation, but the closure follows its dwindling market share in the U.S, dropping to less than 1% in 2021.
This comes after Bittrex’s US branch had to file for Chapter 11 bankruptcy in May due to accusations from the Securities and Exchange Commission of operating an unregistered exchange.
The platform will completely cease all trading activities on December 4, according to the company’s statement.