Crypto derivatives firm LedgerX alleges that former CFTC chairman Christopher Giancarlo obstructed the approval of its DCO registration due to personal bias.
LedgerX is a Swap Execution Facility and Derivatives Clearing Organization that specializes on cryptocurrency derivatives. LedgerX has the U.S. Commodity Futures Trading Commission’s (CFTC) approval to trade and clear swaps on digital money. Ledgerx also offers Bitcoin options trading and clearing. LedgerX options allow users the opportunity to earn a fiat-based yield on Bitcoin by making a contract that gives them the right to sell or buy an asset at a specified price on a specified date when they think it would be profitable due to price changes. Some of products of LedgerX are CFTC-regulated. The company launched the first CFTC-regulated Bitcoin saving account on the market. LedgerX is currently being run by Paul Chou — the CEO and co-founder of the company, who is a computer scientist and an experienced securities trader.
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