FTX Subsidiary LedgerX to Reportedly Put $175 Million in Bannkruptcy Pot

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LedgerX – one of the companies that remained solvent following the downfall of its parent FTX, is preparing to make millions available for bankruptcy proceedings.

  • According to a report by Bloomberg, LedgerX is preparing to make available a considerable $175 million to be used in the bankruptcy proceedings of FTX.
  • The money could reportedly be transferred as soon as Wednesday.
  • Bloomberg says that it’s part of a $250 million fund that LedgerX had devised for a “bid to get regulatory approval to clear crypto derivatives trades without intermediaries.”
  • FTX finalized the acquisition of LedgerX back in October 2021 in what was described as a pivotal moment for the FTX ecosystem.

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