Crypto exchange Bittrex Filed for Bankruptcy

Hello friends,

I am doing good, and I hope that you are having a good time with your near and dear ones.

There is another big news in the crypto market, and it is about the Bittrex exchange. The exchange has filed for bankruptcy, but we need to understand that this is applicable only to the US entity and not to the global. This is the impact of the actions taken by SPC in the past and now finally the exchange has given up and filed for bankruptcy to safeguard themselves.

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The crypto situation in the US is not good that means because now there are a couple of names in the list of exchanges, and they are trying to get over in the country. Some of them are also trying to open their offices in different countries and they want to quit the business in America which is just because of the current regulatory situation in the country, and it is not a good signal.

Other crypto exchanges in America like Coinbase and Gemini are already setting up their operations outside. Because of this news, we can see some price drop on Bitcoin and maybe people in the US must be selling off as this news could have triggered the panic for many holders. It is very important to go with the self-custody of our holding and no matter what happens but this way at least we could be able to save our money.

The exchange has clarified that disease is applicable only for the US entity and in other countries the operation will continue to run as usual. This is a very sad situation where these companies are struggling with their operations and the authorities are not at all worried whereas they should know that it is going to impact on employment.

*Thank you