FTX Finalizes $50 Million Sale of LedgerX Crypto Derivatives Exchange

The sale to M7 Holdings comes amid continuing efforts to untangle FTX's Chapter 11 bankruptcy.

• 2023-04-26
• FTX Miami International Holdings Inc. M7 Holdings

Bankrupt crypto firm FTX to sell LedgerX for $50 million

FTX will seek U.S. bankruptcy court approval for the sale at a May 4 hearing. "We are pleased to reach this agreement with MIH, which is an example of our continuing efforts to monetize assets to deliver recoveries to stakeholders," FTX CEO John Ray said in a statement. Since filing for bankruptcy in November, FTX has recovered over $7.3 billion in cash and liquid crypto assets, the company reported earlier this month.

• 2023-04-26
• FTX crypto derivatives Bermuda Stock Exchange Miami International Securities Exchange Miami International Holdings crypto exchange LedgerX LLC