Derivatives exchange LedgerX, one of the few creditworthy parts of Sam Bankman-Fried’s collapsing FTX crypto empire, is up for sale and drawing interest from at least a dozen big potential buyers.
According to Bloomberg, citing sources close to the trading firms, cryptocurrency giants like Blockchain.com, Gemini, Bitpanda, and Kalshi are interested in LedgerX, among others.
Representatives of the aforementioned interested parties have not yet commented, and Bloomberg emphasizes that the negotiations are becoming more serious, which is why some parties, according to informants, have signed confidentiality agreements.
As of November 17, LedgerX had about $303 million in cash. It’s hard for experts to judge how much new FTX CEO John Ray and his restructuring advisers will be able to raise from the sale.
Be that as it may, LedgerX is considered one of the most valuable assets associated with FTX, after more than 100 satellite companies of the cryptocurrency exchange filed for bankruptcy.
Recall that at the beginning of the year, FTX was estimated at $32 billion, but on November 11, it filed for bankruptcy.
Later, the founder of the exchange was accused of losing up to $2 billion in a secret transfer, and it later emerged that the bankrupt FTX spent $121 million on the homes of employees and the founder’s family.
Author:
Ekaterina Alipova
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
