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Latest Crypto News: FTX To Sell LedgerX; Romania To Launch NFT … – Outlook India

From Romania’s plans to launch an NFT marketplace, FTX’s sale of LedgerX to Sotheby’s NFT auction, here’re some latest development in the crypto space
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Updated: 26 Apr 2023 1:33 pm
FTX has reached an agreement with a subsidiary of Miami International Holdings for the sale of its futures and options exchange, Ledgerx.
The transaction is expected to be worth around $50 million, subject to an approval from the US Bankruptcy Court for the District of Delaware, which will hear the case on May 4, 2023.
“The limitations of our authority stopped at (LedgerX). For those same reasons that we were walled off from going past the regulated entity. The other FTX entities were not able to pierce through LedgerX and potentially take customer money, which obviously, as a regulator, is the priority,” Cointelegraph quoted Rostin Behnam, chair of the US Commodity Futures Trading Commission (CFTC) as saying.
Romania To Launch NFT Marketplace
Romani is set to launch an NFT marketplace, ICI D Services, on April 26.
The country’s National Institute for Research and Development in Informatics has been at the forefront towards developing and adopting Web3.
The institute’s NFT trading platform ICI D|Services is aimed at bridging the gap between public and private sector entities in Web3 adoption.
The platform will allow both private and institutional users to create and trade non-fungible tokens. The Bucharest-based institute has been prioritising research and development of blockchain technology and Web3 tools like NFT over recent years, in the backdrop of rapid global expansion of NFTs.
Sotheby's To Auction NFTs Of Bankrupt Three Arrows Capital
Sotheby's is set to conduct an auction for non-fungible tokens (NFTs) confiscated from bankrupt crypto hedge fund, Three Arrows Capital.
Its NFT collection, called Grails, are digital artwork belonging to 3AC and Starry Night Capital NFT fund, will be auctioned at Sotheby's to recover some portion of the $3 billion owed by the failed crypto fund to creditors.
The Grails collection is described as an unparalleled assortment of digital artworks of notable artists and Web3 technology projects ever compiled.
Sotheby’s head of digital art and NFTs, Michael Bouhanna, highlights the significance of the diverse collection comprising works such as Snowfro's “Chromie Squiggle #1780,” Dmitri Cherniak's “The Golden Goose,” Tyler Hobbs' miniature Fidenza piece numbered 725, Larva Labs’ Zombie CryptoPunk labeled as #6649 and Autoglyphs.
This unique assortment is a crucial milestone in showcasing generative art on blockchain technology this year. Furthermore, it adheres to 3AC’s principles for obtaining top-notch rare pieces currently available in the market.
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