FTX Sells LedgerX to Miami Exchange Owner for $50 Million

FTX has agreed to sell LedgerX, its crypto-derivatives platform, to the owner of Miami International Securities Exchange for about $50 million.

LedgerX was one of the few solvent pieces of Sam Bankman-Fried’s former empire. The deal would give the exchange, known as MIAX and owned by Miami International Holdings Inc., a registered platform to expand its presence in the crypto industry.

“We are pleased to reach this agreement,” said John J. Ray III, chief executive officer of FTX, in a statement Tuesday, calling it “an example of our continuing efforts to monetize assets to deliver recoveries to stakeholders.” FTX will ...