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.
This article originally appeared on the front page of Live Bitcoin News on June 2nd 2023. Have you ever wondered what it’s […]
June 12, 2023
Our roving crypto documentary The Future is Now travels to Malta for the 3rd time! Episode 10 “The Rise of The New […]
March 7, 2020
The Bank for International Settlements (BIS) has unveiled a preliminary proposal mandating banks to be transparent about their cryptocurrency assets. The proposed […]
October 12, 2023
New research from the University of Cambridge, in partnership with online crypto brokerage eToro, delves into the influence of gender on Bitcoin […]
October 9, 2023