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LedgerX Review
LedgerX was a bitcoin options exchange bought by FTX in 2021. It survived the FTX collapse and now trades as MIAX Derivatives Exchange under new owners.
Min Deposit
N/A
Spreads From
Not applicable
Max Leverage
Not applicable
Platforms
N/A
Pros
- LedgerX was the first CFTC approved swap platform and exchange for digital currency
- It stayed solvent and kept operating straight through the FTX bankruptcy
- Miami International Holdings, Robinhood, and Susquehanna now back the exchange
- It remains CFTC regulated today under its new MIAX Derivatives Exchange name
Cons
- LedgerX was owned by FTX from 2021 until the FTX group collapsed in 2022
- The exchange has changed owners and names more than once since 2021
- It is not a retail broker, so traders must use a member broker to access it
- There is no listed minimum deposit, spread, or leverage for direct retail use
Juthica Chou and Paul Chou started LedgerX in 2013. They believed regulators would treat Bitcoin as a commodity. The CFTC approved LedgerX as a swap platform in 2017 and as a full exchange in 2019, the first digital currency firm with both approvals. FTX US bought LedgerX in 2021 and renamed it FTX US Derivatives.
FTX collapsed in November 2022, but LedgerX was solvent and separately regulated, so it stayed out of the bankruptcy filing. In 2023, Miami International Holdings bought it from the FTX estate for about 50 million dollars. In 2025, Robinhood and Susquehanna International Group took a majority stake, and the exchange now trades as MIAX Derivatives Exchange.
MIAXdx is a CFTC regulated exchange and clearinghouse for bitcoin and ether options, futures, and swaps. It is not a retail forex or CFD broker. Traders open accounts through member brokers rather than signing up on the exchange itself.
Max Leverage
Not applicable
Spreads From
Not applicable
Regulators
- CFTC (USA)
