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Fortune
Fortune
Ben Weiss

Bittrex agrees to $24 million settlement after SEC sued crypto exchange alleging it ‘repeatedly chose profits over investor protection’

SEC Bittrex Crypto Gurbir S Grewal Justin Sun United States
Oliver Linch speaks at the Bitcoin 2023 conference. (Credit: Eva Marie Uzcategui—Bloomberg/Getty Images)

The Securities and Exchange Commission and Bittrex agreed to a $24 million settlement on Thursday after the SEC sued the crypto firm in April for allegedly operating as an unregistered exchange, broker, and clearing agency.

“We are delighted to have reached a settlement agreement with the SEC so quickly following the submission of our motion to dismiss,” a Bittrex spokesperson said in a statement when contacted by Fortune. “The agreement has now been submitted to the court for approval, and we will be able to comment further once that process is complete.”

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