what's LedgerX?
LedgerX is a U.S.-regulated cryptocurrency derivatives exchange operating under CFTC oversight as a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO). It pioneered physically settled bitcoin futures and options contracts, enabling traders to hedge or speculate on bitcoin price movements with actual BTC delivery upon settlement rather than cash. The platform supports institutional-grade trading infrastructure, including API access, risk management tools, and clearing services. Originally focused on bitcoin, it expanded capabilities before its acquisition by FTX US in 2021, maintaining compliance for both digital and non-digital asset products.
LedgerX protected funds during FTX collapse via CFTC regulation & segregation, cited by SEC Chair Atkins.
Links
x.com/ledgerxSuccessfully protected customer funds during the FTX collapse in 2022 through strict account segregation as a CFTC-regulated platform, cited by SEC Chair Paul Atkins as an example of effective oversight.
On December 11, 2025, the CFTC issued a no-action letter granting ledgerx_ conditional exemptions from specific Commodity Exchange Act recordkeeping and reporting obligations for swap-related binary options. The CFTC will not pursue enforcement actions as long as outlined compliance measures are followed.
Robinhood and Susquehanna acquire 90% of LedgerX (also known as @miax_dx), a US-regulated derivatives exchange with DCO clearinghouse license. Robinhood customers traded 2.3 billion event contracts last quarter, up more than 2x from the prior quarter.