Ehsani played down the connection between Bittrex and VALR, which he said are"not affiliated in any way".Bittrex is a US-based crypto exchange, which was in the process of winding down its operations due to the tough crypto regulatory environment in the US.
Bittrex Global has been roped into the case as the SEC claimed that it operated using a single shared order book with Bittrex and failed to register as a national securities exchange. Oliver Linch, the Bittrex Global CEO, reassured customers that they had not been affected by the SEC's charges. He said that customers' funds are safe after the SEC filing, and that Bittrex Global will fulfill its legal and regulatory obligations.
these customers funds were safe and secure, but the bankruptcy court would ultimately decide the method by which the funds could be claimed.Ehsani told News24 that the entity which had declared bankruptcy was"not affiliated with VALR in any way". Ehsani clarified VALR's association with Bittrex Global, which he said was a"liquidity partner for some altcoin trading pairs as well as limited custodial services, particularly for smaller market cap coins".