Congratulations on the deal! Court certifies: FTX sells LedgerX for $50 million, but suffers a loss of $250 million.

According to the press release, Miami International Securities Exchange (MIAX) has completed the acquisition of LedgerX.

Blood loss of 250 million? Who is SBF?

The Wall Street Journal reported that FTX's 2021 annual financial statements showed that the company acquired LedgerX in August 2021 at a high price of $298 million, resulting in an estimated loss of around $250 million for FTX.

So, did SBF overpay or did MIH get a good deal? Perhaps the acquisition of Embed can be used as a reference.

According to FTX's current CEO John Ray, during the acquisition of Embed, the senior management believed that the acquisition would benefit market expansion and therefore paid an amount far beyond a reasonable price, with Embed's founder Michael Giles alone receiving $157 million.

Regardless, the sale of LedgerX will help to offset the future funding gap for FTX to compensate creditors.

FTX has already recovered over $7.3 billion in cash and crypto assets, with an increase of $800 million since January.

Additional details: FTX Update: FTX sells LedgerX for $50 million.