New Default in the Crypto Exchange Sector
May, 2023

New Default in the Crypto Exchange Sector

A strange default took place a couple of days before in the crypto sector. The crypto exchange Bittrex, and more specifically the US subsidiary, defaulted due to regulatory incompliance towards authorities.


In contrast, Bittrex Global continues to operate and serve the non-US customers. The US SEC have started to hunt any strange behaviors from crypto companies.


Bittrex will be obliged to pay around $30 million in fines while around 100,000 customer accounts have frozen, with amounts from $500 up to $1 billion. The clearance will show how much assets are in the company.


It’s not news that Coinbase, the largest crypto exchange in the US, will open its new derivative platform in Bermuda, due to regulatory framework.


A new era for cryptos in the USA…..