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FTX Debtors to Sell LedgerX for $50M

FTX Debtors to Sell LedgerX for $50M

FTX and its affiliated debtors announced that they have entered into an interest purchase agreement with M7 Holdings, LLC, an affiliate of Miami International Holdings, Inc. (MIH), for the sale of derivative exchange LedgerX.

John J. Ray III, CEO of FTX, said, "we are pleased to reach this agreement with MIH, which is an example of our continuing efforts to monetize assets to deliver recoveries to stakeholders."

The transaction is subject to customary closing conditions, including approval of the U.S. Bankruptcy Court. A sale hearing to approve the transaction is currently scheduled for May 4th, 2023.

 

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