LedgerX (FTX US Derivatives) is preparing to provide $175 million for FTX's bankruptcy proceedings, according to people familiar with the matter. The funds, which could be transferred as early as Wednesday, come from a $250 million fund set aside by LedgerX to obtain regulatory approval to clear cryptocurrency derivatives transactions without intermediaries. After FTX filed for bankruptcy protection, FTX US Derivatives withdrew its direct clearing plan for crypto derivatives from the U.S. CFTC.
LedgerX is reportedly one of the few companies that remains solvent after the collapse of FTX Group. (Bloomberg)
