FTX to Sell Crypto Derivatives Platform LedgerX to MIAX

FTX intends to sell its US-based crypto derivatives exchange LedgerX to M7 Holdings, a subsidiary of an options platform operating out of New Jersey. The bankruptcy estate of Sam Bankman-Fried’s former crypto exchange is expected to generate $50 million from the transaction according to a story in Blockworks news. M7 Holdings’ owner, Miami International Holdings, runs derivatives-focused Miami International Securities Exchange (MIAX). MIAX teamed up with crypto data provider Lukka last year to introduce a suite of crypto derivatives. The deal with LedgerX is expected to enhance MIAX’s crypto footprint.