LedgerX, a trading platform offering derivatives products based on Bitcoin and Ethereum cryptocurrencies, is no longer using Silvergate Bank to receive domestic wire transfers, according to a Bloomberg report.

Going forward, LedgerX will use Signature Bank instead, the company said in an email to customers.

LedgerX was acquired by FTX.US in 2021 and was one of the few Sam Bankman-Fried-linked projects which remained solvent in the aftermath of FTX’s Chapter 11 bankruptcy proceedings last November.

As a CFTC-regulated trading platform, it also played an important role in the disgraced crypto mogul’s push to gain influence in Washington.

(By Andrew Asmakov)

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