• Owners and former executives apply for a court review of the regulator’s decision to take enforcement action against the exchange following its voluntary application for liquidation
• In a separate action, the court-appointed independent liquidator of Bittrex Global is challenging the constitutionality of the lack of an effective appeal framework in relation to the enforcement actions under Bermuda’s Digital Asset Business Act (DABA)

HAMILTON, Bermuda, Jan. 23, 2025 /PRNewswire/ — Bittrex Global owners and former executives confirmed today the filing of two suits against the Bermuda Monetary Authority (BMA) in the Supreme Court of Bermuda. Based on this development Bittrex Global owners and former executives released the following statement today:

“In November 2023, we announced that Bittrex Global would be ceasing operations. We then entered a four-month period of consultation with the BMA and a globally recognised firm to act as liquidators to develop a plan to ensure an orderly wind-down and the safe return of all claimed funds to former customers. Three business days after the Court approved the liquidation plan and the appointment of the proposed independent liquidators, the BMA issued a warning notice to the company that it intended to take enforcement action.

“We have asked the Court to review the decision of the BMA to bring enforcement action in these circumstances. Unfortunately, the Digital Asset Business Act (DABA) does not afford us, as owners and former executives, the right to respond directly. Therefore, we have also had to file a Constitutional claim in order to challenge the decision.

“Bittrex Global became one of the first companies regulated under Bermuda’s flagship crypto regulation in 2020. Since then, we have worked closely with the BMA, providing them with business plans and other materials setting out in detail all our policies and procedures. Where the BMA made suggestions, for example as part of an annual on-site inspection, these were promptly implemented. It was extremely surprising to learn, mere days after choosing to liquidate the company and after months of consultation with the BMA about our plans, that the BMA intended to bring enforcement action in relation to those same policies and procedures it had known about and in many cases approved over the previous three years. It was further shocking to learn that they proposed to deviate significantly from their own official published guidance and issue a civil penalty over four times the maximum amount under that guidance.

“In a separate court filing, Bittrex Global, acting through the court-appointed independent liquidators, is challenging the constitutionality of DABA’s lack of an effective appeal framework in relation to enforcement actions.

“The return of claimed assets to all Bittrex Global users is already in an advanced stage, under the direction of the independent liquidators and the supervision of the Supreme Court of Bermuda. To date, over 94% of claimed funds have already been returned, and it is anticipated that all claimed funds will be returned in accordance with applicable law in the coming weeks. Bittrex Global owners and former executives have continued to assist in this process, and the return of claimed funds remains our overriding priority.”

View original content:https://www.prnewswire.co.uk/news-releases/bittrex-global-owners-and-former-executives-file-suits-against-the-bermuda-monetary-authority-bma-302358804.html

LONDON, Jan. 23, 2025 /PRNewswire/ — Keith Hale has been appointed as Group CEO of Titian Software and Labguru (BioData Inc.), two leading providers of laboratory data management solutions, as part of the goal to accelerate the future of digital lab operations.

A well-known fintech executive, Keith brings 33 years of growth-focused software and technology leadership. He previously co-founded Netik and was CEO of Multifonds. Most recently, as Executive Chairman and Group CEO, he led the creation of TrustQuay (now Quantios) in 2019 with the integration of Microgen and Touchstone, as well as the acquisition of Viewpoint in 2023.

As Group CEO, Keith will oversee a global organization combining the best of Labguru and Titian, delivering sample management, inventory management, Electronic Lab Notebook (ELN), and Laboratory Information Management System (LIMS) capabilities.

A robust, innovative, and intuitive technology platform for sample and inventory management, ELN, and LIMS will simplify lab automation, scientific data management, and orchestration. The combination of these leading technology solutions accelerates drug discovery and R&D particularly in the biopharma industry, enabling more than 900 customers and over 45,000 scientists to do more science. 

Titian’s product Mosaic is a comprehensive sample management platform deployed by major pharmaceutical corporations worldwide including eight of the top 10. Mosaic integrates with most major laboratory equipment, including automated stores and liquid handlers. The software maximises the efficiency and accuracy of sample management, empowering laboratories to efficiently manage vast repositories of more than a billion samples, including compounds, biological materials, and clinical specimens.

The Labguru platform is a cloud-based laboratory data management research-to-production platform combining an ELN, LIMS, inventory management, and AI-based informatics tools. The solutions are found in R&D and QC labs from academia to biotech, from global pharma to cutting-edge startups.

“Keith has a proven track record of leveraging companies’ strengths to deliver digital innovation and drive growth,” says Jesse Feldman, general partner of Battery Ventures and board member of Titian Software. “Under Keith’s leadership, I’m convinced Labguru and Titian will further enable their clients’ adoption of lab automation, scientific data management, and orchestration as well as AI.”

“As a highly experienced management team combining technology and biopharma industry expertise, we will be focusing on building a digital lab operations industry leader to accelerate drug discovery in biopharma for example, integrating the innovative capabilities of the Labguru and Titian platforms.” said Keith. “As I have seen in other industries, the future lies in digital transformation. I expect the labs that embrace digitalisation and AI will lead the way in innovation and scientific discovery.”

Titian and Labguru’s technology leaders will work together with Keith to ensure continued operational consistency and product-driven focus.

“First, I would like to thank Ariel Yarnitsky for his diligent work over the years and his successful efforts in bringing Labguru to where it is today,” says Jonathan Gross, Labguru founder, now Chief Product Officer of the group. “I look forward to working with Keith to ensure that our combined technology simplifies ever more complex scientific data management, lab automation, and orchestration and frees researchers to research, not perform clerical tasks.”

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About Titian Software

Titian Software is a leading provider of sample management software solutions, catering to the unique needs of research laboratories, biobanks, biotech and pharmaceutical companies worldwide. Titian’s Mosaic Sample Management Software encompasses a comprehensive suite of tools for sample tracking, inventory management, and workflow automation. Mosaic empowers laboratories to efficiently manage vast repositories of samples, including compounds, biological materials, and clinical specimens while ensuring data integrity and traceability throughout the sample lifecycle. https://www.titian.co.uk/

About Labguru

Labguru is a leading secure, cloud-based all- in -one lab data management platform, serving over 750 global customers, including ,, global pharma, Biotech, CROs and research institutes . Scientists utilize Labguru to plan, document, track, automate, and share their research and production. Labguru It encompasses an Electronic Lab Notebook (ELN), LIMS, and an informatics platform, along with molecular biology and chemistry tools and innovative AI modules..  https://www.labguru.com

Media Contact
Amy Kenigsberg
K2 Global Communications
[email protected]

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MIAMI and PRINCETON, N.J., Jan. 23, 2025 /PRNewswire/ — Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced it will migrate Minneapolis Hard Red Spring Wheat (Minneapolis HRSW) futures to its MIAX Futures™ Onyx platform in Q2 2025. Minneapolis HRSW futures will continue to be available for trading on CME Globex^® until the launch of MIAX Futures Onyx.

“MIAX Futures (formally Minneapolis Grain Exchange) has strong, collaborative relationships with key Minneapolis HRSW market participants dating back over a century,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. “The launch of MIAX Futures Onyx represents MIH’s commitment to supporting the agricultural industry with continued investments in programs to promote liquidity, offer competitive fee schedules and develop industry-leading technology.”

The launch of MIAX Futures Onyx aligns with the strategy to build and operate all MIH’s markets on proprietary technology and will significantly expand the range of products and clearing services offered to customers. MIH is in the final phase of modernizing the MIAX Futures clearing infrastructure with new risk management capabilities, including back testing, stress testing, and support for real-time variation calculations. The launch of MIAX Futures Onyx will complete the modernization of the entire MIAX Futures trading and clearing infrastructure.

Mr. Gallagher added, “Industry feedback was critical in the design and development of MIAX Futures Onyx and we believe the new trading platform will provide the industry with a new standard for fast, reliable, and innovative capabilities when it launches later this year.”

Please visit the MIAX Futures Onyx Information Hub to access technical resources, connectivity guides and additional information on connectivity to the MIAX Futures Firm Test Bed Environment. Certain aspects of the migration of Minneapolis HRSW futures to MIAX Futures Onyx, including timelines, are subject to regulatory filings with the Commodity Futures Trading Commission.

About MIAX
MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX^®), MIAX PEARL, LLC (MIAX Pearl^®), MIAX Emerald, LLC (MIAX Emerald^®), MIAX Sapphire LLC (MIAX Sapphire^TM), MIAX Futures Exchange, LLC (MIAX Futures^TM), MIAX Derivatives Exchange (MIAXdx^TM), The Bermuda Stock Exchange (BSX) and Dorman Trading, LLC (Dorman Trading).

MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism.

MIAX Futures is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Hard Red Spring Wheat Futures. MIAX Futures is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes.

MIAXdx is a CFTC regulated exchange and clearinghouse and is registered as a Designated Contract Market (DCM), Derivatives Clearing Organization (DCO), and Swap Execution Facility (SEF) with the CFTC.

BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.

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Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.

MIAX’s executive offices and National Operations Center are located in Princeton, N.J., with additional U.S. offices located in Chicago, IL and Miami, FL. MIAX Futures offices are located in Minneapolis, MN. MIAXdx offices are located in Princeton, N.J. BSX offices are located in Hamilton, Bermuda. Dorman Trading offices are located in Chicago, IL.

To learn more about MIAX visit www.miaxglobal.com.

To learn more about MIAX Futures visit www.miaxglobal.com/miax-futures.

To learn more about MIAXdx visit www.miaxdx.com.

To learn more about BSX visit www.bsx.com.

To learn more about Dorman Trading visit www.dormantrading.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements
The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company), and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

Media Contact:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
[email protected]

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