LedgerX, the crypto derivatives exchange belonging to the bankrupt FTX, is being sold in order to be able to pay the creditors of the exchange.
After its bankruptcy, FTX continues to sell its valuable holdings to provide new sources of liquidity. LedgerX, which is part of the stock market’s US leg, FTX.US, as a result of a recent bankruptcy auction, Miami International Holdings‘s subsidiary M7 HoldingsIt’s sold to. The total amount that the creditors will receive as a result of this sale 50 million dollars Waiting.
FTX.US will acquire LedgerX’s parent company, Ledger Holdings, in October 2021. bought it for $298 million but in this bad situation he was in, he had to sell it at a much cheaper price than he bought it. The settlement with M7 Holdings was confirmed by the US bankruptcy court that oversaw FTX’s transactions. pending approval. To approve the deal A sales hearing on May 4 is planned to be made.
CEO of FTX John J. Rray In his statement on the subject, he made the following statements:
We are pleased to reach this agreement with MIH; this agreement is an example of our ongoing efforts to monetize the assets we hold to provide recovery to stakeholders.
FTX and its subsidiaries continue to collect the large amount to be paid to their receivables by selling valuable institutions and serious investments belonging to the stock market. FTX lawyers in a statement they made at a hearing that took place recently, $7.2 billion He stated that valuable assets had been recovered. According to the lawyers’ statement, FTX is planning to move forward as part of its broader plan. July It plans to present a restructuring plan in May.