Crypto Exchange FTX Buys LedgerX, How They Will Move Into The Derivatives Sector

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....

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....

FTT price soared to a new all-time high after FTX exchange added LedgerX to its ever-expanding list of acquisitions and partnerships. Real-world adoption and brand awareness are one of the best ways for a blockchain project to increase its value and attract new users to users to its ecosystem. One project that has seen massive growth throughout 2021 thanks to its increasing public exposure and exciting protocol launches and partnerships is FTX, a crypto-derivatives trading platform founded by Sam Bankman-Fried and Gary Wang. Data from Cointelegraph Markets Pro and TradingView shows that....