Meet LedgerX: the CFTC's New Google Owned, GS Run Exchange
Just Who Owns Ledger X?
originally posted on marketslant
All your transactions belong to us. Create, approve, outlaw outsiders. Do it under the guise of the investor's protection. CFTC doing the work of the people. The CEO is Paul Chou. Let's start there
LedgerX Paul Chou Career Timeline:
Goldman Sachs > LedgerX > Advisor to CFTC on Blockchain > LedgerX Approved by CFTCAs Zerohedge caught on Saturday:
US regulators aren’t yet comfortable with bitcoin ETFs (although aquad-levered S&P ETF is just fine for mom and pop), but apparently options and swaps are another story.Indeed, our shepherds the government are here to help us by helping the banks. Shepherds F&*k, fleece, or kill their flock. They do not love them.
This week, the CFTC took a bold step forward in terms of granting institutional investors access to the bitcoin market, approving the creation of the first SEF or Swap Execution Facility. Previously, traders who wished to place bets in bitcoin derivatives markets were forced to operate in markets that were strictly OTC. But now the agency has issued a registration order to LedgerX, granting it status with the CFTC as a Swap Execution Facility, in the process approving bitcoin options trading.
Who is LedgerX?
They are owned by Miami International Holdings Inc. which is an options and stock trading platform. They are a Delaware LLC operating out of Princeton NJ. and fronted by attorneys.
According to crytoninjas:
Back in May, Ledger Holdings, the parent company of LedgerX, closed $ 11.4 Million in Series B financing. Led by Miami International Holdings Inc. (MIH) and Huiyin Blockchain Venture Investments, this funding will go to support LedgerX’s plan to develop its regulated exchange and clearing house for bitcoin and other digital currencies.
On December 16, 2016, Ledger Holdings and Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Options Exchange, jointly announced that MIH had completed an investment in Ledger Holdings. Early investors in Ledger Holdings include Google Ventures and Lightspeed Venture Partners.The executives of MIH are attorneys. Lawyers are commonly used to front and hide business interests of people who wish to remain out of the public eye. That in itself is no indictment. But it is worth knowing WHO the CFTC is giving permission to, don't you think?
Here is what I found on Bloomberg's Business description here about MIH's execs.
We've purposely left in the hyperlinks Bloomberg has for their names. Which, as it were, lead to an error page. SHOCKING! The money behind Miami Options is probably a client of Gallagher's firm right?
- Mr. Thomas P. Gallagher - Chairman and Chief Executive Officer
- Mr. Douglas M. Schafer Jr.- Chief Information Officer, Executive Vice President and Director
In case Bloomberg changes the link: Here is a pic for Gallagher and Schafer's bios and their board associations....MORE