What Happened: Why the First Physical Bitcoin Futures Haven’t Launched
LedgerX admitted it has not launched bitcoin futures, as it previously claimed, after the CFTC said it had not approved the exchange to do so.
In a letter to the CFTC Office of the Inspector General, a LedgerX board member alleges the company is failing its investors and shareholders following the suspension of its founders in December.
LedgerX CEO and COO Paul and Juthica Chou have been "placed on administrative leave" by the company, with DTCC vice chairman Larry Thompson filling in.
Former LedgerX CTO and co-founder Zach Dexter has been named as the company's CEO just hours after a director alleged the company's interim management was failing its investors and employees.
LedgerX claims former CFTC Chairman Christopher Giancarlo threatened the company for personal reasons, two letters obtained by CoinDesk reveal.
Seed CX has begun testing bitcoin margin swaps with users and is waiting on regulatory approval to launch them.