FTX Debtors agree to sell LedgerX to affiliate of Miami International Holdings
Quick Take
- FTX debtors will receive about $50 million for the derivatives exchange .
FTX's debtors agreed to sell derivatives exchange LedgerX to an affiliate of Miami International Holdings for about $50 million.
The deal to M7 Holdings needs to be approved by the U.S. bankruptcy court overseeing FTX's proceedings. A sale hearing to OK the deal is scheduled for May 4.
FTX secured approval early this year to sell business units to raise money for creditors. It is also looking to sell Embed Financial Technologies, FTX Japan and FTX Europe. About 117 parties have shown interest in buying entities of FTX, according to a legal filing at the start of this year.
Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.
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