Share this article
LedgerX to Make $175M Available for FTX Bankruptcy Proceedings: Bloomberg
The money could be transferred as early as Wednesday.
Updated May 9, 2023, 4:03 a.m. Published Nov 30, 2022, 2:48 p.m.
LedgerX, a subsidiary of bankrupt crypto exchange FTX, is preparing to put up $175 million toward its parent company's bankruptcy proceedings, according to a Bloomberg report, which cited people familiar with the matter.
The money could be transferred as early as Wednesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The funds will come from a $250 million pot LedgerX was planning to use in a regulatory bid to get approval to settle crypto derivatives without the use of intermediaries.
The contribution from LedgerX would provide a crumb of comfort for FTX's more than one million creditors. FTX's top 50 creditors are collectively owed about $3.1 billion, according to court documents from the bankruptcy filing.
LedgerX, which was acquired by FTX's U.S. wing in 2021, is one of the only entities under the FTX umbrella to remain solvent. The parent firm and scores of its subsidiaries filed for bankruptcy this month.
Neither LedgerX nor FTX immediately responded to requests for comment.
Read more: BlockFi Joins the Bankruptcy Parade
CORRECTION (Nov. 30 18:51 UTC): A previous version of this story incorrectly stated that FTX's more than one million creditors were collectively owed $3.1 billion. That $3.1 billion is actually owed to FTX's top 50 creditors.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Coinbase agrees to buy The Clearing Company to deepen prediction markets push
The deal brings a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
What to know:
- Coinbase is acquiring The Clearing Company, a startup with experience in prediction markets, to help grow its newly introduced platform.
- The deal brings in a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
- The acquisition is part of Coinbase's plan to become an "Everything Exchange", offering a wide range of trading options, including novel cryptocurrencies, perpetual futures contracts, stocks, and prediction markets.
Top Stories
