Bittrex: has begun to transfer customers’ deposits to other cooperative financial institutions

It is reported that Bittrex, a cryptocurrency exchange headquartered in Seattle, announced that, in view of the recent announcement by Silvergate Bank that they would close their business, Bittrex has begun to transfer the deposits of our customers to other cooperative financial institutions. Since Bittrex has opened accounts in various financial institutions, we expect that customers’ ability to access legal funds in Bittrex accounts will not be affected. Our customers’ funds are safe and available. We would like to thank Silvergate for its partnership with Bittrex for many years, and wish their affected employees and customers all the best.

Interpretation of this information:

The Seattle-based cryptocurrency exchange, Bittrex has started the process of transferring its customers’ deposits to other financial institutions in light of the recent announcement by Silvergate Bank. Silvergate’s closure will not affect customers’ ability to access their funds in Bittrex. The exchange has accounts in various financial institutions and customers’ funds are considered safe and available. Bittrex acknowledges Silvergate for its partnership and wishes the affected employees and customers all the best.