What Bittrex is
Bittrex was a cryptocurrency exchange founded in Seattle in 2014 by three former security specialists (Bill Shihara, Richie Lai and Rami Kawach, with backgrounds at Microsoft and Amazon). For years among the most used platforms in the United States, it was known for its broad listing and its emphasis on security. Today it is no longer operational: US activities ceased on 30 April 2023 and the international subsidiary Bittrex Global disabled trading on 4 December 2023. Anyone finding references to Bittrex in old guides should know that the platform is closed. (Verified: September 2026)
Regulation and licences
- MiCA: NOT APPLICABLE — company no longer operational. (Verified: September 2026)
- Timeline of the closure: in October 2022 Bittrex settled with OFAC and FinCEN (around 29 million dollars in total) for sanctions and anti-money-laundering violations. In April 2023 the SEC charged Bittrex Inc., Bittrex Global and co-founder William Shihara with operating as an unregistered exchange, broker and clearing agency; US operations closed on 30 April 2023 and on 8 May 2023 came the Chapter 11 filing in Delaware. In August 2023 a settlement with the SEC worth 24 million dollars. On 20 November 2023 Bittrex Global (Liechtenstein) announced its voluntary liquidation: trading disabled from 4 December 2023, with customers urged to withdraw their funds.
- The plan for a "Bittrex Malta Ltd." with a Maltese licence never materialised into regulated operations in the EU.
- Unlike FTX, Bittrex never blocked withdrawals nor reported balance sheet holes towards its customers: the closure was a regulatory surrender, not a collapse.
Security
Its historic strength: founded by security engineers, the platform suffered no significant breaches of customer funds during its operating history. The end came through regulation, not a hack. (Verified: September 2026)
Alternatives
For those looking for Bittrex and wanting an exchange authorised in the EU today:
- Kraken — full MiCA via the Central Bank of Ireland
- Bitstamp — MiCA via Luxembourg, today part of Robinhood
- Crypto.com — MiCA via Malta
FAQ
- Is Bittrex still active? No. US operations have been closed since 30 April 2023 (with a Chapter 11 bankruptcy in May) and Bittrex Global switched off trading on 4 December 2023.
- What happened to customer funds? Customers were invited to withdraw them during the orderly wind-down; unlike other collapses, Bittrex never blocked withdrawals nor reported shortfalls. For any residual claims the Delaware bankruptcy proceedings apply.
- Why did it close? Because of the weight of US regulatory actions: settlements with OFAC/FinCEN (2022) and with the SEC (24 million dollars, 2023) after being charged with operating as an unregistered exchange.
Verified sources
- https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25817
- https://www.coindesk.com/business/2023/11/21/crypto-exchange-bittrex-global-to-shut-down
- https://www.theblock.co/post/263875/bittrex-global-to-wind-down-operations-urges-customers
- https://fortune.com/2023/05/08/bittrex-bankruptcy-us-filing-crypto-platform
TEAM MEMBERS
LEADERSHIP
CONTACTS OF BITTREX
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