FTX’s creditors continue to struggle, after dramatically filing bankruptcy with its subsidiaries last year.
FTX creditors have agreed to sell LedgerX to a subsidiary of Miami International Holdings. With this agreement, creditors will receive funding close to $50 million.
FTX Creditors Agree to Sell LedgerX
FTX, along with its subsidiaries, had a market-shattering bankruptcy last year. After this bankruptcy, creditors sought to recover their funds. However, FTX creditors have approved the sale of LedgerX. With this sale agreement, creditors will earn approximately $50 million.
FTX creditors have agreed to sell derivatives exchange LedgerX to a subsidiary of Miami International Holdings to receive approximately $50 million. But they are waiting for the deal to be upheld by the US bankruptcy court. The hearing for this sale will take place on May 4. FTX received permission earlier this year to sell its business units to raise money for creditors. Embed Financial Technologies is also looking to sell FTX Japan and FTX Europe. It was stated in a legal filing that there were approximately 117 parties interested in purchasing FTX’s assets.
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