Bankrupt crypto alternate FTX has agreed to sell its derivatives platform LedgerX to an affiliate of Miami World Holdings (MIH).

In a Tuesday press launch, the FTX debtors announced that it had entered into a aquire settlement with M7 Holdings, an affiliate of MIH, following the conclusion of a economic rupture public sale that became as soon as postponed several cases.

The FTX debtors question the proceeds from the sale will amount to $50 million and can simply be finalized following approval from the U.S. economic rupture court docket on Might per chance presumably additionally 4.

“We’re happy to attain this settlement with MIH, which is an example of our persevering with efforts to monetize sources to bring recoveries to stakeholders,” acknowledged John J. Ray III, CEO and restructuring head of FTX.

MIH owns and operates several exchanges within the U.S., including the Miami World Securities Replace (MIAX) and its associates. A separate press launch from MIH means that the agency will construct the acquisition of LedgerX itself, making no mention of the affiliate firm M7 Holdings.

MIAX is also supposedly belief to be one of essentially the most well-known investors in OPNX, a brand contemporary crypto and economic rupture claims trading platform launched by the founders of Three Arrows Capital (3AC) and CoinFLEX.

“MIAX Team is the largest alternate for US fairness alternatives. They are a regulated US equities alternate and believed in our imaginative and prescient very early on,” acknowledged OPNX CEO Leslie Lamb in a video posted to Twitter over the weekend.

A amount of corporations, including MIAX, came out and denied explain involvement with OPNX’s fundraising round earlier this week. Neither MIAX nor any of its associates are investors in OPNX, the agency acknowledged in a press launch shared with Unchained.

Other corporations that denied association with OPNX clarified that they’d ultimate invested in CoinFLEX’s native token FLEX earlier than the introduction of the contemporary undertaking.