Bittrex declares bankruptcy following SEC charges.

Cryptocurrency trading platform Bittrex has filed for Chapter 11 bankruptcy protection in the District of Delaware, estimating it has between $500 million and $1 billion in assets and liabilities. The bankruptcy covers its Seattle-based entity Bittrex, Inc, two Bittrex entities in Malta, and an affiliated entity Desolation Holdings LLC. The declaration followed the U.S. Securities and Exchange Commission (SEC) charging the company and its co-founder and former CEO William Shihara for securities violations in April.