Crypto platform Bittrex files for Chapter 11 bankruptcy following SEC charges

The firm estimated it had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities.

Cryptocurrency trading platform Bittrex has filed for Chapter 11 bankruptcy protection in the District of Delaware.

In a May 8 filing in the United States Bankruptcy Court for the District of Delaware, Bittrex estimated it had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities as part of bankruptcy proceedings. The declaration followed the U.S. Securities and Exchange Commission charging the company and its co-founder and former CEO William Shihara for securities violations in April.

Cointelegraph reached out to Bittrex Global CEO Oliver Linch for comment but did not receive a response at the time of publication.

This is a developing story, and further information will be added as it becomes available.