Bankrupt crypto exchange Bittrex to enable withdrawals
The US division of crypto currency exchange Bittrex is planning to begin client withdrawal s on June 15 after a ruling by a Delaware bankruptcy court. After declaring bankruptcy in May, the United States government fought Bittrex’s efforts to restore customer access to their assets, claiming millions in unpaid penalties for sanctions breaches. On June 13, Judge Brendan Shannon issued an order allowing Bittrex U.S. and its affiliates to facilitate the withdrawal of cryptocurrency assets and fiat cash from the platform on behalf of clients whose claims were uncontested, noncontingent, and resolved. However, the judgment does not determine who owns the assets or how government claims compare to individual customers. It also leaves the door open for possible clawbacks in the future. You might also like: Coffeezilla rips Celsius Network scandal wide open Bittrex’s legal counsel, Patty Tomasco of Quinn Emmanuel, through an email made public on June 15 gave the infor...