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

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.