{"id":11582,"date":"2021-09-01T07:54:12","date_gmt":"2021-09-01T07:54:12","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/digital-currency-firm-ftx-acquires-crypto-derivatives-platform-ledgerx\/"},"modified":"2021-09-01T07:54:12","modified_gmt":"2021-09-01T07:54:12","slug":"digital-currency-firm-ftx-acquires-crypto-derivatives-platform-ledgerx","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/digital-currency-firm-ftx-acquires-crypto-derivatives-platform-ledgerx\/","title":{"rendered":"Digital Currency Firm FTX Acquires Crypto Derivatives Platform Ledgerx"},"content":{"rendered":"

On Tuesday, West Realm Shire Services Inc., the parent company of the crypto exchange FTX, announced that the firm has acquired the Commodity Futures Trading Commission (CFTC) regulated digital currency futures and options exchange and clearinghouse Ledgerx.<\/strong><\/p>\n

FTX Acquires Virtual Currency Futures and Options Exchange Ledgerx<\/h2>\n

Ledgerx<\/a> has been acquired by the cryptocurrency giant FTX,<\/a> according to an announcement published on August 31. Ledgerx is a popular crypto derivatives platform that has seen \u201cover 10 million crypto options and swap contracts\u201d since 2017. Furthermore, Ledgerx claims the derivatives platform \u201cpioneered the bitcoin mini contracts that enable granular trading.\u201d<\/p>\n

The announcement from FTX on Tuesday details that the \u201cfinancial terms of the deal have not been disclosed.\u201d The acquisition is pending at the moment and is expected to settle after customary closing conditions are satisfied.<\/p>\n

\u201cThis acquisition marks a significant milestone for our rapidly growing U.S. business and is a key part of our strategy to bring regulated crypto derivatives to our U.S. user base,\u201d Brett Harrison, the president of FTX.US said during the announcement. Harrison added:<\/p>\n

We believe the integration of our technological capabilities, product portfolio and large balance sheet with Ledgerx will enhance our ability to provide innovative products to all U.S. cryptocurrency traders. We\u2019re excited to take this step and work with U.S. regulators to ensure compliance with the existing derivatives licensing regime.<\/p>\n

<\/p>\n

The announcement says that now that the two entities are combined, the crypto exchange can meet the needs of \u201cretail and institutional traders alike.\u201d Moreover, FTX aims to build a strong relationship with U.S. regulators and emphasized that it would work \u201cspecifically with the CFTC.\u201d<\/p>\n

Zach Dexter, the CEO and co-founder of Ledgerx believes that FTX will help forge a strong relationship with U.S. regulators.<\/p>\n

\u201cU.S. crypto derivatives is an incredibly underserved market,\u201d Dexter said. \u201cIt took time and resources for us to become a regulated entity under the existing frameworks. FTX.US has taken the view, which we share, that U.S. regulators are ready and willing to partner on innovative products, and it\u2019s the responsibility of the industry as a whole to step up and work with agencies like the CFTC,\u201d the Ledgerx CEO added.<\/p>\n

On Tuesday, the CEO of FTX Sam Bankman-Fried said<\/a> on Twitter that \u201cThis is probably one of the most exciting announcements we\u2019ve ever had.\u201d<\/p>\n

What do you think about FTX acquiring the crypto derivatives platform Ledgerx? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nExchanges, Bankman-Fried, Brett Harrison, CFTC, CFTC regulated exchange, clearinghouse, derivatives exchange, ftx, FTX.US, institutional traders, LedgerX, Ledgerx Options, Ledgerx Swaps, Regulators, retail, U.S. cryptocurrency traders, Zach Dexter<\/p>\n","protected":false},"excerpt":{"rendered":"

On Tuesday, West Realm Shire Services Inc., the parent company of the crypto exchange FTX, announced that the firm has acquired the Commodity Futures Trading Commission (CFTC) regulated digital currency futures and options exchange and clearinghouse Ledgerx. FTX Acquires Virtual Currency Futures and Options Exchange Ledgerx Ledgerx has been acquired by the cryptocurrency giant FTX,…<\/p>\n","protected":false},"author":0,"featured_media":11583,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-11582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11582"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=11582"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/11583"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=11582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=11582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=11582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}