FTX.US snapped up LedgerX back in August 2021 for nearly $300 million.

LedgerX CEO Zach Dexter wrote on Twitter that he was “very pleased” to announce that the U.S. Bankruptcy Court in Delaware had granted a motion permitting the sale. 

The sale of LedgerX LLC is expected to generate approximately $50 million in proceeds for the FTX Debtors.

Bankruptcy lawyers representing FTX have agreed to sell LedgerX, a cryptocurrency derivatives trading platform, to M7 Holdings. The affiliate of Miami International Holdings is paying $50m for the platform, which came under the FTX banner in August 2021 when FTX.US acquired it.

FTX's debtors agreed to sell derivatives exchange LedgerX to an affiliate of Miami International Holdings for about $50 million. 

FTX has attracted bidders including Miami International Securities Exchange for its crypto-derivatives platform, LedgerX, one of the few solvent pieces of Sam Bankman-Fried’s former empire.

LedgerX, a trading platform offering derivatives products based on Bitcoin and Ethereum cryptocurrencies, is no longer using Silvergate Bank to receive domestic wire transfers, according to a Bloomberg report.

Crypto derivatives platform LedgerX, one of the few solvent pieces of the bankrupt FTX empire, will no longer use embattled Silvergate Bank to receive domestic wire transfers beginning Wednesday. 

FTX can sell four key units including derivatives arm LedgerX and stock-clearing platform Embed, a Delaware bankruptcy judge ruled Thursday.

Roughly 117 parties are interested in buying entities of the FTX, according to a new legal filing in the troubled crypto exchange’s bankruptcy case.