(Reuters) -FTX has reached an agreement to sell its crypto derivatives platform LedgerX LLC to an affiliate of Miami International Holdings Inc for $50 million, the bankrupt crypto exchange said on Tuesday.
FTX will seek U.S. bankruptcy court approval for the sale at a May 4 hearing.
“We are pleased to reach this agreement with MIH, which is an example of our continuing efforts to monetize assets to deliver recoveries to stakeholders,” FTX CEO John Ray said in a statement.
Since filing for bankruptcy in November, FTX has recovered over $7.3 billion in cash and liquid crypto assets, the company reported earlier this month. It continues to sell assets as part of that effort, recently agreeing to sell its stake in Web3 startup Mysten Labs for $95 million.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Maju Samuel and David Gregorio)
