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SEC Targets Bittrex, Fallen Giant of U.S. Crypto Exchanges
Bittrex Inc. was once a powerhouse in the world of cryptocurrency exchanges in the United States. However, its journey has been rocky, to say the least, and the company is now facing regulatory threats that may result in legal action. In March 2023, the Securities and Exchange Commission (SEC) informed Bittrex that its enforcement staff would recommend suing the company for alleged violations of investor-protection laws. This article will discuss the history of Bittrex, its current situation, and what the future holds for this once-great crypto exchange.
The Rise of Bittrex
Bittrex was founded in 2014 by Bill Shihara, Richie Lai, and Rami Kawach, who had previously worked at Microsoft, Amazon, and Blackberry. The founders recognized the potential of cryptocurrency trading and sought to create a platform that offered a wide range of digital assets and a user-friendly experience. Bittrex quickly gained popularity among traders and became one of the most well-respected crypto exchanges in the United States.
At its peak, Bittrex was responsible for over $1 billion in daily trading volume and was considered the largest cryptocurrency exchange in the country. It offered a wide range of trading pairs, including Bitcoin, Ethereum, and Litecoin, and was known for its robust security…
