Tags: LedgerX

The Ledger connector vulnerability put the entire DeFi ecosystem at risk, with market experts asking users to remain cautious of using DApps even after Ledger released a patch.

The new CFTC proposal enhances rules for FCMs and DCOs, mandating high liquidity in customer fund investments.

Ledger CEO Pascal Gauthier says the past week has been a “humbling experience” and apologized for the firm’s “miscommunication.”

Ledger’s decision to introduce a third party to your wallet seed phrase created an exploit that could appeal to both governments and hackers.

The deal was announced in April and approved by the bankruptcy judge on May 4.

Ledger’s latest update — aimed at making private seed phrases on its wallets recoverable — was simply an attempt to innovate and improve user security.

The judge said he read all the papers and declarations related to the FTX debtors’ motion for the sale of LedgerX and was “satisfied” with the proceedings.

The futures and options exchange was purchased by FTX.US in 2021 to expand its spot trading services. Three other FTX assets remain up for sale.

(Getty Images)

"It’s important for us to know certain facts, information [and] data about the company acquiring a registered market participant” to avoid another FTX debacle, Kristin N. Johnson said on CoinDesk TV.

The collapsed exchange is looking to sell off its more separable and solvent assets as it seeks to repay creditors.

Four businesses up for sale as part of bankruptcy proceedings include Embed, LedgerX, FTX Japan and FTX Europe.

While the Ad Hoc Committee does not want to prevent the sales from occurring, it argued it needs to be involved to ensure that customers‘ interests are represented.