When he took over as head of the FTX exchange after the bankruptcy filing, John J. Ray III said he was pleased with the sound financial health of some companies in the ecosystem. He had mentioned the sale of these, in order to raise funds to reimburse creditors and investors. Among them is LedgerX. It is a digital currency futures and options exchange, regulated by the Commodity Futures Trading Commission (CFTC). It is above all one of the few solvent companies in the empire of Sam Bankman-Fried. She returned to FTX’s purse in October 2021.
LedgerX is of interest to many crypto companies
The LedgerX crypto derivatives exchange, a subsidiary of the FTX exchange, is on sale. information was given last Friday, by Bloomberg, which cites a source familiar with the matter. According to the source, there are already several expressions of interest for the company. Companies such as Blockchain.com, Gemini, Bitpanda and Kalshi have reportedly expressed interest. In total, there would be at least 10 companies that want to afford the scholarship.
The announcement of the sale of this entity is part of the efforts to restructure the FTX ecosystem. For information, LedgerX LLC, the crypto company that manages the exchange is not only solvent, but well capitalized, assure its officials.
Furthermore, the exchange has ceased to use the name FTX US Derivatives. This name appears in some official documents since its acquisition by FTX.
It is learned that LedgerX plans to provide liquidity as part of FTX’s bankruptcy proceedings. In total, the company is expected to raise $175 million, announces Bloomberg. An amount said to come from a $250 million fund that LedgerX planned to use for a CFTC application seeking regulatory approval for “clearing crypto derivatives transactions without an intermediary”.
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