Crypto Exchange FTX.US to Acquire LedgerX

FTX.US, a leading US-regulated cryptocurrency exchange, announced that it executed a sale and purchase agreement to acquire Ledger Holdings Inc., parent company of LedgerX LLC. (LedgerX), a Commodity Futures Trading Commission (CFTC) regulated digital currency futures & options exchange and clearinghouse. 

The combined entity will leverage its resources to create products that meet the needs of both retail and institutional traders alike. Additionally, FTX.US will be devoting significant resources towards developing a strong working relationship with the US regulatory community, specifically with the CFTC. Through this acquisition, FTX.US hopes to further drive innovation that is compliant and meets the rigorous standards of the US financial services industry.

Brett Harrison, President of FTX.US, said, "This acquisition marks a significant milestone for our rapidly growing US business and is a key part of our strategy to bring regulated crypto derivatives​ to our US user base. We believe the integration of our technological capabilities, product portfolio and large balance sheet with LedgerX will enhance our ability to provide innovative products to all US cryptocurrency traders. 

"We're excited to take this step and work with US regulators to ensure compliance with the existing derivatives licensing regime. We believe it is incumbent upon the industry to be proactive and to seek out working relationships with regulatory groups like the CFTC to help shape the future of our industry."

Zach Dexter, CEO and Co-Founder of LedgerX, added, "US crypto derivatives is an incredibly underserved market, and it took time and resources for us to become a regulated entity under the existing frameworks. FTX.US has taken the view, which we share, that US regulators are ready and willing to partner on innovative products, and it's the responsibility of the industry as a whole to step up and work with agencies like the CFTC."