As per reports, FTX has signed an agreement with an subsidiary of Miami International holdings for selling Ledgerx, FTX’s futures and options exchange, stated Cointelegraph.
As reported by Cointelegraph, FTX mentioned that about $50 million will be transacted during this proceeding. It is expected that the deal has not been approved yet by the United States Bankruptcy Court for the District of Delaware and its hearing is fixed om May 4, 2023.
Sources revealed that John Ray III, CEO, chief restructuring officer, FTX, described the selling of FTX as “an example of our continuing efforts to monetize assets to deliver recoveries to stakeholders,” Cointelegraph highlighted.
“The limitations of our authority stopped at [LedgerX]. For those same reasons that we were walled off from going past the regulated entity, the other FTX entities were not able to pierce through LedgerX and potentially take customer money, which obviously, as a regulator, is the priority,” Rostin Behnam, Chair, the U.S. Commodity Futures Trading Commission (CFTC), commented in December 2021, Cointelegraph concluded.
(With insights from Cointelegraph)