Finally, the court approved the request to sell the FTX subsidiary LedgerX to the MIAX.
LedgerX is the first federally regulated swap execution facility (SEF) and clearing house to list and clear fully collateralized. This platform also provides Trade bitcoin (BTC) and ether (ETH) options and futures. This platform was fully registered with the US CFTC body. In Q4 2021, LedgerX was acquired by the FTX exchange, now a bankrupt crypto firm.
Recently the court green signaled for The Miami International Securities Exchange (MIAX) to acquire the LedgerX platform.
The CEO of MIAX, Thomas Gallagher, said that the LedgerX acquisition by MIAX surely brings a very big opportunity for the LedgerX platform to offer new innovative products & services to the customers.
Earlier in April of this year, both parties reached an agreement to complete the deal for $50 million.
Embed platform controversy & lawsuit
Recently The FTX’s current leadership team filed two lawsuits in court.
One of the lawsuits targeted FTX’s top players & FTX co-founder Sam Bankman-Fried (SBF) for paying a wildly high price for a stock trade platform Embed.
Through another lawsuit, the FTX team forced all the people, who grabbed huge money through high-value selling of the stock platform. Through the lawsuit, FTX wants a total of $244 million.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.