what was ftx us derivatives 
ftx u s derivatives was a digital currency futures and options exchange and clearinghouse regulated by the commodity futures trading commission cftc after its parent company ftx declared bankruptcy in 2022 it was one of the few properties that were not a part of the bankruptcy proceedings the company remains operational today but is under new ownership and a different name the exchange is now ledgerx and it is owned by miami international holdings as of may 2023 1the exchange offered physical settlements of all contracts block trading and algorithmic trading opportunities for institutional investors it also allowed direct access for all traders understanding ftx us derivativesftx u s derivatives was the first exchange to offer cryptocurrency contracts in the u s using fractionalized portions of cryptocurrency contracts for bitcoin were called mini contracts and ether contracts were called deci contracts these fractional contracts enabled investors to make granular trades and allowed for scalability as the markets fluctuated ftx u s derivatives was registered with the cftc as a designated contract market derivatives clearing organization and swap execution facility 2in october 2021 ftx u s acquired ledgerx which changed its name to ftx u s derivatives ftx u s derivatives offered cryptocurrency futures options and swaps all of which were physically delivered instead of cash settled in november 2022 ftx declared bankruptcy after figuring out it had run out of liquidity due to customer withdrawals over the years ftx operated it was suspected that exchange customers had billions of dollars stolen in a scheme led by bankman fried its founder sam bankman fried stepped down as ceo he was charged with wire fraud conspiracy to commit wire fraud securities and commodities fraud and conspiracy to commit money laundering ftx u s derivatives however was not a part of its bankruptcy proceedings the exchange rebranded as or reverted to its old name ledger x and was then purchased by miami international holdings in may of 2023 1like a regular futures contract the company s cryptocurrency futures contracts allowed investors to buy or sell at a predetermined price and time in the future contract sizes depended upon the cryptocurrency ftx u s derivatives offered contracts for the current and following month and two quarterly settlements the swap contracts from ftx u s derivatives offered investors an inexpensive way to buy or sell cryptocurrency all futures and swap contracts were fully collateralized a service for institutional investors allowed for the direct negotiation of block trades with ftx u s derivatives acting as the clearinghouse 3