Bittrex is Closing Down

[pooya87]

what was once the largest and most respected crypto exchange has

It was neither large nor respected anymore, at least not since 2017. It was also bankrupt for the past couple of years, they just kept it alive artificially and by scamming their users.
You can see the trust summary of their representative on bitcointalk here: https://bitcointalk.org/index.php?action=trust;u=96390
You can also read my topic on how they stole a lot of money from their users overnight: https://bitcointalk.org/index.php?topic=2406054.0

Basically in early 2017 they lost the competition to up and coming platforms like Binance. So they decided to start scamming to make some money. From there they lost all their revenue and users slowly but surely.
I'm honestly surprised they kept their scam business alive this long.

[1714583247]

1714583247

[1714583247]

1714583247

[1714583247]

1714583247

[1714583247]

1714583247

[examplens]

Basically in early 2017 they lost the competition to up and coming platforms like Binance. So they decided to start scamming to make some money. From there they lost all their revenue and users slowly but surely.
I'm honestly surprised they kept their scam business alive this long.

Already earlier this year there were signs that the end for Bittrex was coming soon. Some very bad decisions, they were among the first to introduce mandatory KYC, even at a time when there was not so much pressure for it. I'm not surprised by what's happening, more like you, I wonder how the hell they managed to last so long. If I remember correctly, they left the US because they were doing business illegally

Bittrex Files for Bankruptcy in Delaware
Bittrex to shut its U.S operations

[tabas]

Reading those closing words on that Tweet made me felt sad. I don't know but because yes, it's an end of an era. We've known it all that bittrex was once of the biggest in the past years and seeing them go like this is kind of making me emotional. I'm not a fan of theirs and used them not that long but that's it, I'm just feeling emotional right now that this can happen to any exchange that have been big during their prime.

I was also a bit emotional upon reading the news. It's not because another centralized exchange is about to die; it was because Bittrex played a central role in my newbie years. Although I ditched it a long time ago, the news evoked some nostalgia. One of my largest Bitcoin purchases in those early years was made there. And I also made some nice money with the platform. I can still remember those years when admission to the exchange more or less means the project has some potential or legit.

No doubt about that. Bittrex has been one of the contributors to the growth of the crypto market. They've played a significant role before the taking over of Binance. It's also the time that KYC wasn't really a thing for most exchanges until it's being enforced because of the government pressure.

And listing there is almost always followed by a strong pump. Bittrex wasn't as cheap as the likes of HitBTC back then. For an altcoin to make it to Bittrex means a lot.

I agree, that's where it has started. This time, when we see it to the common exchanges when an alt is being listed, the pumped is followed but before that. It has happened there and bittrex and compared to hitbtc, well, I don't want to get into that exchange because it's not as good as the ones that we have before and presently.

[johnsaributua]

One exchange went down the mountain, after hotbit some time ago, I remember when there was still a balance there, for bitrex I have no assets and have withdrawn it. exchanges are not about ratings or everything to remember, bittrex I think there are also quite a lot of users.
Some people argue about their KYC data in an exchange that has already been sent and maybe it's been a few years ago, I think it's hard to guess which exchanges will last for a definite time limit, I myself sent kyc data because there was a crypto gift exchange on the exchange, and without a long thought for kyc, although there are exchanges that do not require kyc.

Exchange is a business service, it is natural that competition for entry fees, selling, buying, or withdrawing from them, I realize that the liquidity of each exchange is different, I think the existence of bittrex during its heyday there are people who feel helped and often use its services even though it is only used hit and run. The weakness of the exchange is that it can close at any time and it is only the exchange itself that finds it difficult and they decide that they have to do it.

[stompix]

I think Bittrex is a United States based cryptocurrency exchange? The last time I knew about what was going on about them is just the regulations in United States that are not favoring crypto organizations in United States, especially the crypto exchanges. United States is becoming something else to crypto exchanges and many of them will noot be able to survive United States crypto regulatory environment.

It has nothing to do with the US and regulations.
One must think before blaming them of a simple question, how would it be possible for every exchange that opens up to keep going ?
It's not, so just as other businesses exchanges lose volume, lose clients an go bankrupt.

The US based company behind Bittrex US filled for bankruptcy half a year ago, this is Bittrex global which should not give a damn about those since they target international clients, but, they have no more clients at all, so the global branch goes after the the US one. We have 200 spot exchanges, some, like 90% of them need to go!