As announced in a press release, FTX and its debtors have reached an agreement to sell LedgerX to a potential buyer. April 25th.
FTX sells LedgerX to a Miami company
FTX has entered into an agreement to sell its derivatives trading subsidiary, LedgerX, to M7 Holdings, an affiliate of Miami International Holdings, Inc.
FTX acquired LedgerX in 2021 and rebranded the service as FTX US Derivatives. However, FTX filed for bankruptcy in November 2022, and he soon began seeking court permission to sell multiple businesses, including LedgerX, in December.
FTX and its debtors now expect to make $50 million from the deal. FTX CEO John Ray III suggested the sale would help return funds to stakeholders.
The current sales agreement is subject to approval at a court hearing set for May 4, 2023.
Buyers are linked to recent OPNX news
a announced separately Buyers suggest that Miami International Holdings, Inc. (MIH) will make the purchase itself.
MIH is the owner of the Miami International Stock Exchange (MIAX). By the way, on April 21st, MIAX and several other companies were identified as investors in his OPNX. OPNX is the successor to failed cryptocurrency company Three Arrows Capital and his CoinFLEX.
Many investors denied investing in OPNX, revealing they invested in previous CoinFLEX funding rounds. MIAX itself has not commented on the matter.
However, MIAX invested in CoinFLEX regardless of the details of the controversy. So MIAX and MIH clearly see an opportunity in the crypto industry.
FTX’s post of selling LedgerX for $50 million to a company linked to the OPNX controversy first appeared on CryptoSlate.
