FTX to sell LedgerX to company linked to OPNX controversy for $50M | Keyword Financial

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FTX to sell LedgerX to company linked to OPNX controversy for $50M

Apr. 25, 2023

By Mike Dalton

LedgerX will be sold to Miami International Holdings, Inc. pending an agreement in May.

FTX and its debtors have reached an agreement to sell LedgerX to a potential buyer, as announced in a press release on April 25.

FTX will sell LedgerX to Miami firm

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 entered bankruptcy in November 2022 and soon began to seek court permission to sell multiple businesses including LedgerX in December.

FTX and its debtors now expect to earn $50 million from the deal. FTX CEO John Ray III suggested that the sale will help return funds to stakeholders.

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