MIAX to buy FTX’s LedgerX crypto exchange

The American MIHowner of the Miami International Securities Exchange (MIAX), has finalized theacquisition of the crypto derivatives platform LedgerX belonging to the bankrupt group FTX.

In the FTX bankruptcy proceedings, Miami International Holdings announced Friday that it has completed theacquisition from LedgerXa derivatives exchange specializing in cryptocurrency and regulated by the American stock exchange regulator CFTC.

The platform, bought by the US branch of the exchange FTX in 2021, was won at auction by MIH last month. Several large ecosystem players, including Gemini, were interested in acquiring it. The resulting proceeds to creditors from the transaction are expected to be approximately 50 million dollars.

The acquisition of LedgerX represents an important part of our growth strategy, expanding our ability to offer new and innovative products to the swaps and futures industry. We are excited to complete this acquisition and welcome the LedgerX team to the MIH family,” commented Thomas P. Gallagher, CEO of MIH in a statement.

LedgerXwhich had about $300 million in cash at the time of the bankruptcy announcement of FTXis one of the few companies solvent from the group founded by alleged con man Sam Bankman-Fried.

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