CFTC Confirmed LedgerX Not On FTX’s List Of Bankruptcy Companies
The CFTC confirms an FTX subsidiary, LedgerX, is not on the bankruptcy filing, thanks in part to its diligence in complying with the regulatory requirements of the future watchdog.
According to Blockworks, Kristin Johnsson, commissioner of the United States Commodity Futures Trading Commission (CFTC), said that FTX subsidiary FTX US Derivatives (formerly LedgerX) was not included in the bankruptcy filing, partly because they complied with the regulations.
As mentioned in an earlier Coincu News article, Former Commodity and Futures Trading Commission (CFTC) Commissioner Jill Sommers has joined the board of FTX US Derivatives.
“The CFTC has independently confirmed that LedgerX is not on the list of insolvent subsidiaries of FTX, and to our knowledge, LedgerX customer assets were not damaged.”
As per previous news, the CEO of FTX US Derivatives has stated that the company will soon fully decouple from FTX US and that its cash reserves will be sufficient for at least a year.
FTX has also indicated that FTX US Derivatives is in Chapter 11 bankruptcy proceedings. Rostin Behnam, President of the CFTC US, said that FTX US Derivatives is still operating in good health and should be attributed to government oversight.
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