(2023)
SEC v. Bittrex
Year
2023
Criminal or Civil
Civil
Year Resolved
N/A (as of April 2023, unresolved)
Jurisdiction (Court/State)
U.S. District Court for the Western District of Washington
Filed By
U.S. Securities and Exchange Commission (SEC)
Penalty/Fine (USD)
To be determined (as of filing, no specific fine announced)
Lawsuit Overview
The SEC charged Bittrex, Inc., former CEO William Shihara, and Bittrex Global GmbH for operating an unregistered exchange, broker, and clearing agency. The company allegedly earned $1.3 billion while bypassing registration requirements and directing crypto issuers to remove language indicating their tokens were securities.
Category
Unregistered Exchange / Broker / Clearing Agency
Notable Individuals Involved
William Shihara (former CEO of Bittrex)
Gary Gensler (SEC Chair)
Gurbir S. Grewal (Director, SEC Enforcement Division)
SEC Legal Team: Daphna Waxman, Pamela Sawhney, Ainsley Kerr, Christopher Carney, Ben Kuruvilla, Lisa Knoop, Neil Hendelman
Investor Loss Estimate
Not explicitly quantified; $1.3 billion in platform revenue implicated
Final Outcome
Pending (litigation ongoing)
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