Bittrex, an exchange platform, where multiple cryptocurrency assets are being traded on a daily basis, was recently accused of operating an unregistered securities exchange by the United States Securities and Exchange Commission (SEC).
Reacting to this development, the management of Oduwa Blockchain Solutions released a circular, advising its community members that they now have the window to withdraw their assets from the cryptocurrency exchange if they would like to do so.
In the circular signed by Oduwa Blockchain Solutions’ Chief Marketing Officer (CMO), Damilare Famuyiwa, it was stated that Bittrex, which once boasted a robust platform for trading various cryptocurrencies, is now grappling with financial difficulties that have led to its insolvency.
Famuyiwa, in the circular addressed to Oduwa Blockchain Solutions’ community members, noted that while the bankruptcy of an exchange is undoubtedly concerning, it should not deter anyone from harnessing the potential of cryptocurrencies for positive impact.
“We remain steadfast in our commitment to the African cryptocurrency ecosystem. We, therefore, urge you all to stay informed, seek advice, and explore alternative exchanges that align with our values.
By doing so, we can navigate challenges and contribute to the responsible growth of our digital economy,” the statement quoted him as saying.
Famuyiwa, who’s also the spokesperson of Oduwa Blockchain Solutions, maintained that as the African cryptocurrency ecosystem continues to evolve and grow, it is important for everyone involved in it to stay informed about market developments, regulatory changes, and potential risks.
According to him, by doing so, everyone can make informed decisions that align with their financial goals and contribute to the responsible advancement of digital economy in Africa.
BY IYABO AINA
Publisher Of News Rain Nigeria
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