Bittrex and [William] Shihara, who was the company\u2019s CEO from 2014 to 2019, coordinated with issuers who sought to have their crypto asset made available for trading on Bittrex\u2019s platform to first delete from public channels certain \u201cproblematic statements\u201d that Shihara believed would lead a regulator, such as the SEC, to investigate the crypto asset as the offering of a security. For example, in an effort to avoid regulatory scrutiny, before Bittrex would make an asset available on its platform, Bittrex and Shihara instructed issuer-applicants to delete statements related to \u201cprice prediction[s],\u201d \u201cexpectation of profit,\u201d and other \u201cinvestment related terms.\u201d<\/p>\n<\/blockquote>\n

Bittrex was not a globally leading exchange; ranked somewhere around 40th in global volume, news of the SEC\u2019s actions have yet to shake the crypto markets in any material sense. Still, small cuts can lead to material bloodletting, something that the web3 world can ill afford in its current downturn.<\/p>\n<\/p><\/div>\n

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