Bittrex Seeks to Withdraw $24 Million Settlement Agreement and Requests SEC Refund

According to Decrypt, the now-defunct cryptocurrency exchange Bittrex filed a motion this week with a federal judge seeking to vacate its $24 million settlement agreement with the SEC reached in 2023 and requesting that the SEC fully refund the penalty. In the motion, Bittrex’s attorneys argued that while the SEC had alleged in its lawsuit that the relevant crypto tokens constituted unregistered securities, the SEC has since publicly acknowledged—following the Trump administration’s return to power—that this legal theory was flawed. The agency has accordingly dismissed nearly all similar cases, leaving only the Bittrex case unresolved. Bittrex contends this treatment is unfair and demands equal treatment. Notably, the SEC initiated procedures in March 2026 to transfer the $24 million to the U.S. Treasury for distribution to harmed customers. Bittrex’s attorneys are urgently requesting that the court issue an order directing the return of the funds before the transfer occurs. The SEC has declined to comment on the matter.