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Rostin Behnam points to CFTC-regulated LedgerX as success story amid FTX collapse

Published 12/01/2022, 12:45 PM
Updated 12/01/2022, 02:20 PM

Commodity Futures Trading Commission, or CFTC, chair Rostin Behnam has cited LedgerX, the crypto derivatives and clearing platform based in the United States which was not part of FTX Group’s Chapter 11 filing, as an example of how regulating crypto firms could benefit U.S. consumers.

In a Dec. 1 hearing of the Senate Agriculture Committee exploring the collapse of FTX, Behnam said LedgerX had essentially been “walled off” from many of the companies within FTX Group — including those that filed for bankruptcy — that provided a regulatory window for the CFTC. The CFTC chair said LedgerX was “healthy”, “solvent”, and “operational” compared to other FTX entities.

CFTC chair Rostin Behnam addressing Senate Agriculture Committee on Dec. 1

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