This entire press release is a master class in misunderstanding the relationship between the CFTC, FTX, and FTX US (LedgerX).
FTX US was registered, licensed, and regulated by the CFTC as both a DCM (designated contract market) and a DCO (derivatives clearing organization).
FTX Intl bought LedgerX (the DCO and DCM) presumably as an entryway into the US marketplace and as an attempt to bypass the registration process for those types of entities, but FTX Intl was in no way registered, licensed, or regulated by the CFTC.
It's a shame LedgerX may go down with the ship, and their marketplace has a lot of opportunity.
FTX US was registered, licensed, and regulated by the CFTC as both a DCM (designated contract market) and a DCO (derivatives clearing organization).
FTX Intl bought LedgerX (the DCO and DCM) presumably as an entryway into the US marketplace and as an attempt to bypass the registration process for those types of entities, but FTX Intl was in no way registered, licensed, or regulated by the CFTC.
It's a shame LedgerX may go down with the ship, and their marketplace has a lot of opportunity.