Miami International Holdings represented by MIAX’s subsidiary announced on the completion of the transaction for the purchase of the LedgerX crypto derivatives platform for $50 million.
According to the report, the acquisition is an important part of the company’s growth strategy.
“[Сделка] expands our ability to offer new and innovative products to the swap and futures industries,” said Thomas P. Gallagher, Chief Executive Officer of Miami International Holdings.
In the summer of 2021, the American “daughter” of FTX announced plans to open access to trading in cryptocurrency derivatives for clients. The structure later acquired LedgerX.
In December 2022, Bloomberg reported that the platform was up for sale. According to the agency, about 10 companies showed interest in the purchase. Among them are Blockchain.com, Gemini and Bitpanda.
In January 2023, the court allowed FTX to proceed with the sale of its business units in order to raise liquidity for settlements with creditors. The exchange previously reported that LedgerX, Embed, FTX Japan, FTX Europe, and other companies in the group have generated interest from 117 entities.
Initially scheduled for March 7, the auction for the sale of LedgerX has been repeatedly postponed. In early May, the court approved a deal between FTX and a subsidiary of Miami International Holdings.
Recall that in the same month, the lawyers of the exchange filed a lawsuit against the bankrupt crypto-lending platform Genesis demanding the return of $4 billion.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Miami International Holdings represented by MIAX’s subsidiary announced on the completion of the transaction for the purchase of the LedgerX crypto derivatives platform for $50 million.
According to the report, the acquisition is an important part of the company’s growth strategy.
“[Сделка] expands our ability to offer new and innovative products to the swap and futures industries,” said Thomas P. Gallagher, Chief Executive Officer of Miami International Holdings.
In the summer of 2021, the American “daughter” of FTX announced plans to open access to trading in cryptocurrency derivatives for clients. The structure later acquired LedgerX.
In December 2022, Bloomberg reported that the platform was up for sale. According to the agency, about 10 companies showed interest in the purchase. Among them are Blockchain.com, Gemini and Bitpanda.
In January 2023, the court allowed FTX to proceed with the sale of its business units in order to raise liquidity for settlements with creditors. The exchange previously reported that LedgerX, Embed, FTX Japan, FTX Europe, and other companies in the group have generated interest from 117 entities.
Initially scheduled for March 7, the auction for the sale of LedgerX has been repeatedly postponed. In early May, the court approved a deal between FTX and a subsidiary of Miami International Holdings.
Recall that in the same month, the lawyers of the exchange filed a lawsuit against the bankrupt crypto-lending platform Genesis demanding the return of $4 billion.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!