SEC Seeks to Transfer $24 Million Bittrex Settlement to Treasury

The Securities and Exchange Commission moved to transfer $24 million in funds it received as part of a 2023 settlement with defunct crypto exchange Bittrex Inc. to the US Treasury after failing to reliably identify harmed investors.

Efforts to determine Bittrex customers who were harmed by the company’s failure to register as a national securities exchange, broker, and clearing agency have come up short and likely won’t succeed, the SEC said Thursday in the US District Court for the Western District of Washington.

“SEC staff have no reasonable way of identifying harmed investors or establishing the amount of harm suffered ...