The Commodity Futures Trading Commission (CFTC) announces that on Friday, November 11, 2022, counsel for LedgerX LLC, d/b/a FTX US Derivatives (FTX), submitted to Commission’s Division of Clearing and Risk a formal withdrawal of FTX’s request to amend FTX’s Amended Order of Registration as a derivatives clearing organization to allow FTX to offer products that are not fully collateralized.

The request was originally submitted on December 6, 2021. The application was not approved.

Last week, FTX US and a number of its subsidiaries filed for Chapter 11 bankruptcy in Delaware. John J. Ray IlI has been appointed Chief Executive Officer of the FTX Group. Sam Bankman-Fried has resigned his role as Chief Executive Officer.