Collapsed cryptocurrency exchange FTX has secured US bankruptcy court permission to complete the $50 million sale of LedgerX.
US Bankruptcy Judge John Dorsey signed off on the sale of the crypto derivatives platform to an affiliate of Miami International Holdings on Thursday, less than a month after the deal was announced.
FTX, which recently said that it has recovered over $7.3 billion in cash and liquid crypto assets since a run on the company caused its collapse in November 2022, purchased LedgerX parent company Ledger Holdings in 2021 for $298 million.
The company is attempting to repay an estimated $11 billion to customers through a combination of asset sales and other clawback actions.
Elsewhere in its attempts to find additional funds, FTX on Wednesday said that it would seek repayment of nearly $4 billion from Genesis Global Capital (GGC), the bankrupt lending arm of crypto company Genesis.
In a court filing, FTX said that Genesis owes the company money as a result of transactions that took place shortly before the bankruptcy filing. This attempt is legal under US bankruptcy law which allows debtors to claw back payments made in the 90 days before a bankruptcy filing in order to distribute those funds among creditors.
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