FTX’s LedgerX Up For Sale
December 03, 2022
As per the reports, LedgerX, which is one of the few still solvent crypto firms of SBF, is for sale and attracting the interest of potential buyers.
According to people familiar with the matter, potential buyers include crypto giants Blockchain.com and Gemini.
LedgerX is considered as one of the most valuable assets associated with FTX after over 100 FTX entities filed for bankruptcy on November 11.
Since bankruptcy was declared, FTX CEO John J. Ray III and his advisers have combed through the company's books for cash, cryptocurrencies, and assets that could be sold to pay back creditors.
LedgerX had about $303 million in cash as of November 17, but it is unclear how much could it make from the sale.
After Gemini &
Blockchain.com, cryptocurrency exchange Bitpanda and event contract trading platform Kalshi are also CFTC-registered and have expressed interest.
On Thursday, CFTC Chairman Rostin Behnam told lawmakers that potential sale wasn’t discussed.