Bittrex Inc. filed Chapter 11 bankruptcy in Delaware, while Bittrex Global, its parent company will continue to operate outside of the United States. The exchange had announced in early April that it would be closing its U.S. operation. The U.S. Securities and Exchange Commission had sent a Wells Notice to the company by mid-month.

The SEC took enforcement action on April 17, 2023 against the exchange for operating as an unregistered clearing agency, broker, and exchange. also classified ALGO, DASH , and OMG in the lawsuit as ‘unregistered security’. Randall Reese, from Chapter 11 Dockets recently revealed the crypto platform had 100,000 creditors. Omni Agent Solutions has been hired to send regular emails and updates on the website.

Bittrex’s Chapter 11 filing shows assets and liabilities between $500 million and $1 billion. Bittrex Global has also filed for bankruptcy with its two other subsidiaries: Bittrex Malta Holdings Ltd. Customers in the United States who have used the crypto exchange are instructed to withdraw funds by April 30.

It is not clear who the largest creditors of the company are or how long the case may last. Bittrex Inc. of Seattle issued a statement in response to the current situation at 6:30 pm (ET).

Bittrex announced: ‘Having already announced that Bittrex, Inc. will cease all operations in the U.S. as of April 30th, Bittrex has now decided to file Chapter 11 bankruptcy at federal court in Delaware’. Bittrex Global will continue to operate as usual for customers outside of the U.S. This announcement has no impact on Bittrex Global.

statistics from Mempool.space show that there are approximately 54,000 unconfirmed Bitcoin transactions. After the network fee hike in February, Bitcoin wait times and fees have increased in March.

Due to demand from Ordinal Inscription transactions, fees increased 122% in a matter of 10 days. Since February 8, 2023, the average and median transfer fees have increased. This is despite BTC being significantly more expensive and the ordinal inscription trend remaining in full swing.

Data from bitinfocharts.com shows that the average BTC transaction cost was 0.000084 BTC, or $2.40 per transfer on Friday afternoon (ET). The average fee for a transfer was $1.704, which is 41.17% less than the current average Bitcoin fee.

BTC‘s median sized fee increased 42.02%, from $0.69 to $0.98 each transaction in the same period. On March 24, average fees jumped to $4.24 per transaction, and median-sized fees reached $1.37 per transaction that day.

There are currently more than 6662,000 Bitcoin-based Ordinal Inscriptions. Some of the fee increases can be attributed to this inscription trend. For Ordinal Inscriptions, 150.2457 BTC has been collected.

Although BTC fees are higher than the average and median-sized fees on the Ethereum ( Ethereum) network, they remain lower than the average or median-sized fees. The average ETH fee is $5.43 per transfer. The median-sized ether fee is 0.0014 Ethereum, or $2.54 per transact.

The average and median Bitcoin transaction fees are $0.98 to $2.40, but some fee payments at 6 Satoshis per Byte or $0.24 each transaction have made it past the transaction queue.

Block intervals were quicker than the ten minute average before the last difficulty change. They averaged nine minutes 33 seconds over the last 2,016 blocks. However, they currently range between nine minutes 50 seconds and ten minutes 21 seconds.

65 cryptocurrency derivative exchanges have recorded a trading volume totaling $171 billion in the last 24 hours. This is a 21.85% increase over the previous day. The trading volume as well as open interest in bitcoin futures increased to $791 billion. Binance accounted for $468 billion.

The total open interest in bitcoin futures reached $9.73 billion on February 21, 2023. However, it has fallen to $9.06 trillion by March 2. BTC had been above $23,000 for seven days prior to March 2.

On Thursday, however, the price fell to $22,259 per piece. There were many long positions before the drop. According to statistics of Coinglass, 78.116 traders were liquidated at 8 p.m. Eastern Time. With the largest liquidation taking place on Okx, the total amount of liquidations since the price changes has reached $237.97 millions.

There were $206 million in liquidations on March 2, with 90% of those positions being long. A BTC/USD Swap on Okx was valued at $4.16 million, according to Coinglass. Binance, Bybit and Okx had the highest number of liquidations over the last 24 hours. Huobi, Coinex and Deribit were close behind.

There were $9.2million in short positions bet against BTC‘s rising value on March 2. The March 2 liquidations were almost as high as those that took place on February 8, when $254 million worth of long positions was wiped out. More closely, the March 2 liquidations were similar to those of Jan. 17, when $190 million was liquidated in long positions.

Robert Kiyosaki is the author of Rich Dad Poor Dad. He shared his thoughts about why prices for his top three investment choices – gold and silver – are rising. Rich Dad Poor Dad was co-authored in 1997 by Sharon Lechter and Kiyosaki. For six years, it has been on The New York Times Best Sellers List. The book has been translated into more than 51 languages in more than 109 different countries.

Kiyosaki tweeted Tuesday a question asking why bitcoin, silver and gold are rising. Then he answered his own question by stating that the U.S. middle and poor are becoming more debt-strapped. He urged investors to purchase at least one silver coin, which costs $30, to get richer.

According to the famous author, he believes that gold, silver and bitcoin owners will become rich if the Federal Reserve pivots and prints trillions more fake dollars. He predicted gold would rise to $3,800 and silver to $75, noting that the stock markets will crash, sending the prices of silver and gold higher.

“If Fed keeps raising interest rates, the U.S. Dollar will become stronger, causing gold, bitcoin, and silver prices to drop. Buy more. Buy more. He repeatedly stated that Fed interest rate increases will cause the U.S. to crash, which would result in stock, bond and real estate markets plummeting. He advised investors to purchase gold, silver and bitcoin before the Fed pivots.

Kiyosaki: Silver is Cheap

The Rich Dad Poor Dad author has recommended gold, silver and bitcoin for a while. However, he highlighted silver in his most recent tweets as being affordable and cheap, reinforcing his earlier statement that silver is the best investment value right now.

Kiyosaki reminded Twitter followers on Wednesday that he had been “saying buy silver for many years,” noting that silver has been a worst commodity for fifty years and that it is therefore the best investment. Kiyosaki also stated that the gold/silver ratio in general is 1 to 15, meaning that 1 ounce gold can buy 15 grams of silver. He pointed out, however, that 1 ounce gold can purchase 80 ounces silver in January. ‘Cheap. Nearly 1:100. Silver going up. Silver is loved by EVs, solar, and [and] greenies. FOMO,’ Kiyosaki emphasized.

He stated that he was buying more BTC after recommending bitcoin repeatedly. He explained that he is a Bitcoin investor and not a trader so he gets excited when the BTC price drops. He urged investors to invest in crypto now, before the worst economic crash in history.

The author of Rich Dad Poor Dad warned last week that we are currently in a global depression with rising bankruptcies and unemployment. The Federal Reserve raised the benchmark rate by 25 base points this week, making it the highest rate since 2008.

Peter Schiff took to Twitter to declare that Bitcoin prices would fall even more in 2023 and that Bitcoin holders’ confidence would be shaken. Schiff, an economist and skeptic of cryptocurrency, has been using Musk’s Twitter to express his doubts.

In a tweet Schiff mentioned that people who are loyal Bitcoin users believe that the cryptocurrency’s price will rise in 2023. He stated that Bitcoin would fall below 5000 USD over the next year, which will shake the confidence among Bitcoin holders.

The absurd prediction is mocked by the economist.

Schiff and his Bitcoin criticism

In a Thursday interview with TD Ameritrade Network, he advised cryptocurrency holders to sell all their holdings and use the proceeds for physical gold.

“Get out of crypto,” is my advice to people. Your useless Bitcoin can still be sold for as high as 17,000 USD. He replied that he would recommend you use it to buy some gold.

He said that anyone looking for long-term inflation hedge or value storage should not invest in Bitcoin. He tweeted that it is worthless. “Its market value has fallen by two-thirds.”

Saylor is again on Schiff’s radar

He also made a dig at Saylor a few hours ago. He stated that MicroStrategy Incorporated stockholders will be held accountable for the preoccupation of Chairman Michael Saylor with Bitcoin (BTC). Schiff tweeted that shares of the company had fallen to a 52 week low. They have also fallen by an astonishing 90% from their February 2021 all-time high.

Peter Schiff, who is known for his criticisms of investing decisions, is the most vocal opponent to the most widely used digital currency. MicroStrategy, a well-respected provider of business intelligence technologies and technologies, is well-known.

Attacks on MicroStrategy

MicroStrategy acquired over 132,500 Bitcoin units, which is worth more than 4 billion USD. MicroStrategy issued Senior Convertible Notes in order to acquire digital assets over time. This is a debt instrument. The majority of the funds come from the surplus cash balance of the company. When Michael Saylor was still the CEO of the company, he promoted the Bitcoin idea. He believed that the technology behind cryptocurrency could generate a substantial price rise in the near future.

Peter Schiff regularly attacks MicroStrategy’s announcement that its BTC assets would continue to be listed on the balance sheet of its business for the foreseeable future. MicroStrategy is a company that has a significant amount of exposure to Bitcoin. The share price drop reflects the pessimistic mood created by the ongoing crypto winter.