FTX will seek US 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.
The buyer, Miami International Holdings, owns the Bermuda
Stock Exchange and several US-registered securities exchanges, including the
Miami International Securities Exchange. MIH confirmed the sale agreement but
declined to comment further.
FTX filed for bankruptcy protection in the United States on
November 11 in the biggest crypto firm failure, after traders pulled billions
from the platform in three days and rival exchange Binance abandoned a rescue
deal.
LedgerX, which is regulated by the US Commodity Futures
Trading Commission, was omitted from FTX's bankruptcy proceedings. FTX US
acquired it last year to expand into crypto futures and options trading.
FTX said earlier this month that it is working on a
bankruptcy plan that would lay out how it intends to repay its creditors and
customers. FTX may consider restarting or selling its crypto exchange as part
of that process.
FTX founder Sam Bankman-Fried and several company insiders
have been indicted on fraud charges for their role in the company's collapse.
In contrast to Bankman-Fried's plea of not guilty, the former members of his
inner circle have pleaded guilty and agreed to cooperate with prosecutors. © Reuters