FTX's LedgerX, a Solvent Corner of SBF's Fallen Empire, Will Put Millions in Bankruptcy Pot

Nov 30,2022
KingData News: LedgerX -- one of the few corners of Sam Bankman-Fried’s crumbled crypto empire that remain solvent -- is preparing to make available $175 million for use in FTX’s bankruptcy proceedings, according to people with knowledge of the matter. The money, which could be transferred as soon as Wednesday, comes from a $250 million fund that LedgerX had set aside for a bid to get regulatory approval to clear crypto derivatives trades without intermediaries. The firm, which is known as FTX US Derivatives, withdrew its application with the US Commodity Futures Trading Commission as more than 100 FTX entities filed for bankruptcy on Nov. 11.
A financial document disclosed in the media indicates that SBF's Alameda Research has a capital debt situation, with nearly half of its holdings related to FTT and Solana. On November 6, 2022, CZ stated that due to recent revelations, Binance will sell all FTT on its books. This indicator broadcasts updates on FTX-related events.
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