One FTX subsidiary, LedgerX, known as FTX US Derivatives, is notably absent from the bankruptcy filing, CFTC Commissioner Kristin Johnson pointed out, in part thanks to their due diligence in complying with the futures watchdog’s regulatory requirements. In 2017, LedgerX applied to register with the CFTC as a derivatives clearing organization (DCO). 

“We require, in permitting LedgerX to operate, that LedgerX comply with a number of conditions,” Johnson said. “LedgerX agreed that it would only offer fully collateralized contracts.  The CFTC has independently confirmed that LedgerX does not belong on the list of FTX bankrupt subsidiaries, Johnson said. 

“Not $1 of customer assets have been compromised, to the best of our knowledge,” Johnson said of LedgerX.