FTX Digital Asset Exchange Acquires Crypto Derivatives Platform LedgerX

FTX.US completed the acquisition of the digital asset derivatives platform LedgerX, divulging a multipronged approach by the United States subsidiary of Sam Bankman-Fried’s crypto trading empire.

LedgerX, which is a regulated crypto futures exchange, will now be known as FTX US Derivatives, according to a recent statement by FTX.US. The deal’s close comes after the launch of an NFT marketplace earlier this month. The United States-based exchange’s parent organisation declared last week a meme-friendly raise of four hundred and twenty million dollars from sixty nine investors.

Notably, some of the fresh capital is set aside for bringing more companies under the FTX umbrella.

The exchange’s CEO, Sam Bankman-Fried mentioned,

“We’ve probably done a half a billion dollars of acquisitions so far this year.”

The financial terms of the aforementioned acquisition were not disclosed.

FTX.US President Brett Harrison mentioned in a statement,

“We believe the integration of the two organizations provides us with not only a technological advantage, but also furthers our working relationship with the regulatory community in a positive, constructive and transparent manner.”

The deal gives FTX.US a couple of licenses granted to LedgerX by the United States Commodity Futures Trading Commission. As such, the crypto exchange can move to offer digital asset futures, swaps and options to the United States retail traders.