5 ms·

"FTX" wasn't registered with the CFTC, only one of the 130 FTX-related entities was registered, specifically "FTX Derivatives US LLC".

• gojomo 4y ago
  …which until recently was 'LedgerX' (still its domain name), & wasn't part of the bankruptcy filing, seems to be operating normally, & has reassured customers their assets are, per its regulated processes, separately custodied (not with the unlicensed/offshore FTX). So while it takes some time for these things to unravel – it could be the next domino to fall! – there is at least a plausible story that the actual CFTC-licensed entity here (fka LedgerX) was spared the theft & bankruptcy. That would be a credit to the CFTC's regime, rather than the knock portrayed here. (I believe that this spin comes from a advocacy group for maximal regulations, firing a salvo to support its factions in DC, taking advantage of confusion about which related but legally-distinct entities are licensed.)
  • kevinpet 4y ago
    This comment undermines the whole story and shows that bettermarkets isn't interested in reality, only pushing their agenda.