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[Lunch Briefing] Gemini Is Considering Buying Ledger X Reorganizing the FTX Division

At 1:01 p.m. on the 5th, the price of Bitcoin (BTC) in South Korea is 22,951,000 won, which is up 0.43 percent from the day before. Ethereum (ETH) went up by 1.17 percent to 1,723,000 won. Binance Coin (BNB) went up 1.05 percent to 393,500 won, while Ripple (XRP) went up 0.23 percent to 523.1 won. Dogecoin (DOGE) is now worth 138.7 won, down 0.36 percent.

Also on the rise is the international market. At the same time, BTC was worth $17,206 on CoinMarketCap, which was up 1.39% from the day before. ETH was traded at $1291.60, which was an increase of 2.69 percent. Tether (USDT) and USD coin (USDC) are both worth one dollar. BNB rose 1.02% to $294.90 on the market.

The total value of all cryptocurrencies on the market is $865.17832 million, which is about 1116.7721 billion won. This is up about $1.26528 (about 16.3322 trillion won) from the day before., a cryptocurrency data company, gives a fear and greed index. Fear is at 26 points, which is the same as the day before. The derivatives affiliate of FTX, LedgerX, is the focus of cryptocurrency exchanges around the world.

Bloomberg reported on March 3 (local time) that cryptocurrency exchanges and Gemini want to buy FTX subsidiary LedgerX. At least 10 cryptocurrency exchanges are happy that Ledger X was bought by FTX, which is in the process of reorganizing.

LeisureX is thought to be one of the best FTX affiliates, and the US Commodity Futures Trading Commission is in charge of it right now (CFTC). LeisureX has the second most cash of any affiliate of the bankrupt FTX, with $303.4 million.

On the 17th of last month, LeisureX CEO Dexter said on Twitter that the company did not file for bankruptcy because “LeisureX has enough capital.” As FTX decides to sell Leisure X, it seems like some of the creditors’ money could be recouped.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.