Court order allows Bittrex to unlock crypto withdrawals on June 15

The court’s decision follows opposition by the US Department of Justice, which argued that Bittrex’s request for withdrawals was premature

article-image

Grey82/Shutterstock, modified by Blockworks

share

Bittrex customers are now on the brink of regaining control over their assets as a court order has granted the platform the authority to allow withdrawals.

“The platform will be up and running for withdrawals on Thursday, June 15,” Bittrex attorney Patricia Tomasco told Blockworks on Wednesday.

US District Judge Brendan Shannon signed the court order on Tuesday, authorizing the bankrupt crypto exchange to honor withdrawals. Bittrex is “authorized to take all actions necessary to effectuate the relief granted,” he added.

The Justice Department last week opposed Bittrex’s request to permit customers to withdraw their crypto and fiat currencies, arguing that the motion was premature and improperly sought to prioritize creditors not included in a formal plan.

The decision was influenced, in part, by the fact that Bittrex’s largest creditor, the US Treasury’s Office of Foreign Assets Control (OFAC), would have its claim subordinated under its proposed plan. OFAC’s claim exceeds $24 million, according to a filing.

But the recent court ruling doesn’t make it clear whether customer claims are given priority over the government’s.

The company, based in Seattle, stopped its US operations in April, blaming regulatory uncertainties and a lack of enthusiasm from lawmakers for embracing innovation. 

Bittrex went bankrupt last month, listing more than 100,000 US-based creditors, shortly after being accused by the Securities and Exchange Commission (SEC) of running an unregistered securities exchange. 

The SEC claimed that six tokens listed on Bittrex, including Algorand’s ALGO and Dash, are classified as securities.

The CEO of Bittrex Global, Oliver Linch, earlier told Blockworks: “As an industry, as a company, we’d much rather have clear rules that say what we can’t do than the uncertainty and the fog associated with simply not knowing what to do.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template.png

Research

The march toward an interoperable and onchain-by-default internet depends on reliable messaging and value transfer across heterogeneous domains. Crosschain protocols now process >$1.3T in combined annual transfer volume and secure tens of millions of user interactions, yet no single design dominates.

article-image

The goal, per Santiago Santos, is to make crypto a relatable piece of tech for people who may not even understand it

article-image

Stripe stablecoin unit aims to operate under a federal charter enabling regulated stablecoin issuance and custody services

by Blockworks /
article-image

Will TradFi make crypto better or create more problems than it solves?

article-image

Subtle decisions by risk curators saved Aave from significant turmoil

article-image

The new Rootstock Institutional unit aims to connect professional investors to Bitcoin-native yield and liquidity strategies anchored in BTC’s security layer

by Blockworks /
article-image

DOJ files record civil forfeiture against more than 127,000 BTC linked to scam activity

by Blockworks /