Today is a bittersweet day. This month we turned nine years old; and while I am excited and proud that we’ve come this far, I am also very sad. Today, Bittrex is beginning the process of winding down its U.S. operations. Don’t worry – all customer funds are safe and available to withdraw; however, it’s just not economically viable for us to continue to operate in the current U.S. regulatory and economic environment.
Back in 2013, when the three of us built Bittrex, it was about technology. Taking nascent crypto technology and making it better with our vast experience of enterprise software and security knowledge. We built technology that was ahead of everyone at the time. Full-service API. Near instant atomic transactions. Wallet infrastructure, handling more wallets than anyone. Offline cold wallet solutions. We’ve never lost funds or been hacked. It was technology, simple and elegant. We said we would be the most secure and fairest trading platform out there while treating our customers fairly. No hidden deals. No special treatment. We never took shortcuts.
Nine years later, the crypto ecosystem is very different. Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape.
In the end, we made great strides toward accomplishing our goal of maturing the crypto space. However, operating in the U.S. is no longer feasible and Bill, Rami and I will focus on helping Bittrex Global succeed outside the U.S.
As I mentioned above, all customer funds are safe, here and ready for your retrieval (for users with KYC requirements met). We will permit trading until April 14, 2023, and you should withdraw all your funds by April 30, 2023. A timeline of important dates as well as an FAQ are located here to provide further information.
I’ve truly enjoyed being a part of this revolution and will continue to be involved in this space. Thanks to all the Bittrex users over the years that made us who we are.
See ya around the blockchain,