FTX.US acquires Bitcoin derivatives platform LedgerX
FTX.US acquires LedgerX for an undisclosed amount to dive into Bitcoin and Ether futures trading. FTX.US, the United States-based affiliate of Sam Bankman-Fried’s cryptocurrency exchange FTX, is acquiring crypto derivatives platform LedgerX for an undisclosed amount.FTX.US’ owner, West Realm Shire Services, announced on Tuesday that the company had executed a sale-and-purchase agreement to acquire LedgerX’s parent company, Ledger Holdings. The deal is expected to close, pending satisfaction of customary closing conditions, the firm noted.LedgerX is a digital currency futures and options....
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On Tuesday, West Realm Shire Services Inc., the parent company of the crypto exchange FTX, announced that the firm has acquired the Commodity Futures Trading Commission (CFTC) regulated digital currency futures and options exchange and clearinghouse Ledgerx.
FTX Acquires Virtual Currency Futures and Options Exchange Ledgerx
Ledgerx has been acquired by the cryptocurrency giant FTX, according to an announcement published on August 31. Ledgerx is a popular crypto derivatives platform that has seen “over 10 million crypto options and swap contracts” since 2017.....
LedgerX, an institutional trading platform that hopes to be the first federally regulated derivatives clearing organization for digital-based options, recently received an investment from Miami International Holdings Inc. MIH invested in LedgerX’s parent company, Ledger Holdings, and received a 10-year, exclusive global right to license equity or fixed income products related to digital currencies developed by LedgerX and to develop its own equity or fixed income derivatives based on such LedgerX products to be listed on MIAX Options and MIAX PEARL, MIH’s second options exchange. MIH also....
Crypto exchange FTX and its U.S.-based affiliate FTX.US continue to expand in and beyond the space. CEO of FTX International Sam Bankman Fried confirmed that the platform acquired Bitcoin and Ethereum derivatives exchange LedgerX. This platform has been licensed by the Commodity and Futures Trading Commission (CFTC) and will allow FTX.US to offer crypto-based derivates […]
LedgerX has received temporary approval from the US Commodities Futures Trading Commission to act as a swap execution facility. The bitcoin options startup applied for licensure last year and has received backing from Lightspeed Venture Partners and Google Ventures. LedgerX CEO Paul Chou said that despite the temporary approval, the exchange isn't set to launch until further licensure is acquired. He said of the temporary approval: "This is a first step, and is positive progress, but it is just one milestone toward our ultimate goal. Our mission is still to obtain a derivatives clearing....
Federally regulated bitcoin exchanges seem to be becoming a trend. Paul Chou, a consultant and former Goldman Sachs trader is readying LedgerX Bitcoin derivatives exchange and clearing house. LedgerX seems like a service that could help Bitcoin derivatives come a step closer to additional legitimacy by being fully regulated. While working for Goldman Sachs, Chou was responsible for the development of algorithmic strategies for equity trading for U. S. and Japanese markets. He also developed a set of cross-asset strategies and devised a method to unify and optimize the trade flow across....