⚡#Crypto exchange #FTX petitioned a federal court for permission to sell several subsidiaries, including U.S.-based derivatives wing #LedgerX .

Source: #FinanceDotYahooDotCom

🔥JUST IN🔥
#FTX will auction its derivatives exchange #LedgerX to bidders on April 4.

Crypto Wallet Provider #Ledger Delays Key-Recovery Service After Uproar
😍😍😍
After criticism from the crypto community, the firm pledged to open-source the Ledger Recover code before releasing the controversial update.

#LedgerX #Cryptonewsdaily #CryptonResearchBot #BTC

U.S. Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has pointed out that the proposed regulations raise concerns about LedgerX being in a regulatory "gray area." The CFTC recently proposed revisions to regulations governing the investment of customer funds by futures trading brokerages (FCMs) and derivatives clearing organizations (DCOs). Johnson emphasized that the regulatory model for LedgerX wasn't adequately addressed, highlighting the need for regulatory adaptation as the derivatives market evolves. 🔍💼📊 #CFTC #regulations #DerivativesInnovation #LedgerX

CFTC's Regulatory Proposal and the Unique Case of LedgerX.

The CFTC is scrutinizing how cryptocurrency companies handle customer assets, but its current proposal may not account for LedgerX's unique operational structure, possibly leaving it vulnerable to regulatory scrutiny.

1. LedgerX Highlights the Regulatory Gap

- CFTC introduced a proposal for futures commission merchants (FCMs) and derivative clearing organizations (DCOs) to invest customer funds in highly liquid assets.
- The proposal falls short in comprehensively addressing the innovative operational structure of LedgerX.
- LedgerX stands out by establishing direct connections with clients, departing from the traditional intermediary role of FCMs.

2. Commissioner Kristin Johnson's Concerns

- Commissioner Kristin Johnson voiced concerns about the regulatory framework lagging behind the rapid evolution of the cryptocurrency industry.
- LedgerX, now part of Miami International Holdings, operates in a unique niche by providing direct access to clients, a departure from industry practices.

3. Regulatory Oversight and Compliance

- LedgerX has attracted attention for directly settling cryptocurrency transactions, bypassing intermediaries.
- The company has acquired multiple CFTC registrations, enhancing consumer protections and asset segregation.
- Commissioner Johnson calls for a revised regulatory framework that uniformly safeguards retail clients, regardless of their engagement through intermediaries or directly with non-intermediated DCOs like LedgerX.

4. The Call for Action

- The CFTC offers a 75-day window for the public to provide feedback on the proposal.
- This period provides an opportunity for contemplation and dialogue to guide the CFTC in addressing regulatory gaps.
- The CFTC must ensure that regulatory measures evolve with the ever-changing derivatives market to safeguard the interests of retail customers and maintain a fair and just environment in the digital financial landscape.

#CFTC #LedgerX

$BTC "Bitcoin Volatility Index Reaches Two-Month Low, Signaling Market Calm"

The Bitcoin Volatility Index, as reported by BlockBeats, hit a two-month low today, April 27th.
This index, created by T3 Index in partnership with LedgerX, fell to 58.17, marking a 3.9% decrease from the previous day. This index tracks the expected implied volatility derived from Bitcoin option prices traded on LedgerX.

Implied volatility is essentially the market's forecast of future price fluctuations, as inferred from the current option prices. It's a valuable metric because it reflects the collective sentiment and expectations of market participants.
#BTC #LedgerX

⚡ #FTX #crypto exchange agrees to sell #LedgerX to an affiliate of Miami International Holdings

FTX debtors will sell its LedgerX #Derivatives exchange for about $50M for to an affiliate of Miami International Holdings. #FTT