After nearly four months of being purposefully offline, popular crypto exchange Bittrex announced its reboot, complete with a new website. Within an hour, the company had to once again cease onboarding customers.
Bittrex CEO Bill Shihara explained, “We’ve spent the past four years building Bittrex on the founding principles of innovation, security and responsibility. Given these principles, pausing new user signups during a period of immense trading volume was not a decision we took lightly, but our responsibility to provide customers with a reliable platform and outstanding customer service, made it the right thing to do. After diligently working to improve our infrastructure and upgrade our website, we’re pleased to announce registration for new users resumed today.”
The last anyone had heard of the Seattle-based exchange, was when it revealed back in March “‘the decision to delist these tokens has been made on the basis of maintaining the company’s “strict coin listing criteria.’ Of the 82 digital tokens to be delisted, 28 have either ‘broken blockchains or wallets that will not allow withdrawals.’ Other tokens are set to be delisted due to thin liquidity,” these pages reported.
Just weeks prior to its delisting warning, Bittrex responded to US regulators’ calls by stressing it “is committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to our customers” adding how it also “look[s] forward to continuing [its] proactive dialogue with the SEC and other regulators on how to build a secure, fully-regulated environment for blockchain.”
Tuesday, 10 April, the exchanged confidently posted on its website, “In December, Bittrex temporarily paused signups for new users to preserve the experience, stability and security of the platform for existing customers as the company worked on improving the infrastructure to efficiently manage the immense amount of interest from new users. Though Bittrex was able to facilitate the registration of some new users through a wait list program over the past few months, new users will now be able to initiate registration themselves through the Bittrex website at www.Bittrex.com. Also, the company made additional adjustments that will help streamline the on-boarding process for both retail and corporate customers,” the company claimed.
Bittrex Halts Again
To have bowed out at literally the height of crypto’s price run-ups last year was a bold move, and enthusiasts evidently were chomping at the bit to have it back up and operating. So much so, if Bittrex’s tweet an hour later is to be believed, the exchange claimed to be overwhelmed and as a result had to once again shutter its digital doors.
Interestingly, the exchange said it has “expanded from four, full-time employees in early 2017 to more than 50, including the addition of top-level talent from the Department of Justice, the Department of Homeland Security and Amazon. Bittrex also significantly increased the number of support staff to include almost 100 representatives, who are working to ensure the company responds to customer requests in a timely and efficient manner.”
The exchange hopes to be back up and running “as soon as possible.”
Will you still use Bittrex after this? Let us know in the comments section below.