FTX Delays Auction for Regulated Derivatives Platform LedgerX

An auction for LedgerX, a crypto derivatives platform owned by bankrupt FTX, has been delayed by about two weeks.

The auction, initially slated for March 7, has been rescheduled for March 22, court papers show. A notice about the delay offers scant details about its cause. Bankrupt companies sometimes push out sale deadlines to better evaluate and refine bids.

Advisers for FTX are trying to sell off assets as part of an effort to return money to the insolvent crypto empire’s creditors. In addition to LedgerX, it’s soliciting bids for FTX Japan, FTX Europe and stock-clearing company Embed.

LedgerX is ...