FTX's LedgerX to Free Up $175 Million for Use in Bankruptcy Proceedings

The money could be transferred as soon as today and comes from a $250 million fund that LedgerX had set aside, as it aimed to get regulatory approval to clear crypto derivatives trades without intermediaries, per the report.

LedgerX withdrew its application with the CFTC as FTX Group filed for bankruptcy on Nov. 11.

Previously, FTX US had acquired LedgerX last year and rebranded it to FTX US Derivatives.