CDS Crypto News FTX Subsidiary LedgerX Acquired by MIAX / 05.20.2023
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FTX Subsidiary LedgerX Acquired by MIAX / 05.20.2023

Acquisition of FTX subsidiary LedgerX by MIAX completed.

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FTX Subsidiary LedgerX Acquired by MIAX

The Miami International Securities Exchange (MIAX), run by Miami International Holdings (MIH), has purchased LedgerX, one of the FTX assets whose sale was authorized by the court in January.

FTX Subsidiary LedgerX Acquired by MIAX / 05.20.2023

According to MIH CEO Thomas Gallagher, the acquisition of LedgerX was a critical component of their development strategy because it increased their capacity to provide cutting-edge solutions to the swaps and futures markets.

About Purchase

For the potential purchase of LedgerX by MIAX, Open Exchange and Three Arrows Capital businesses reached a purchase agreement in April. At the time, FTX predicted that the sale would generate approximately $50 million in total income. Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware approved the arrangement on May 4. 

The sales of LedgerX, Embed, FTX Japan, and FTX Europe were approved by the Delaware court in January. There were about 117 interested parties, 56 of which have LedgerX as one of their top priorities.

Another potential buyer of LedgerX, OKC USA, has said that while it does not object to the sale, it may seek appropriate relief for not-true promises made in a declaration issued in connection with the transaction.

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Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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