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LedgerX, one of the few solvent pieces of Sam Bankman-Fried's crumbled FTX empire, is for sale and attracting interest from would-be buyers including crypto giants Blockchain.com and Gemini, according to people familiar with the matter.

The unit, which is registered with the US Commodity Futures Trading Commission as a derivatives exchange, was a cornerstone of Bankman-Fried's efforts in Washington. It is also considered one of the most valuable assets associated with FTX after more than 100 other entities filed for bankruptcy.

There could be over half a dozen other potential buyers for the crypto derivatives exchange, and some of the interested parties have signed non-disclosure agreements.

It is unclear how much LedgerX, which had about US$303 million (HK$2.36 billion) in cash as of a November 17 filing, may fetch in a sale.

After FTX purchased it last year, LedgerX sought approval for a controversial plan to clear crypto derivatives trade without intermediaries. The firm withdrew its application with the CFTC as the corporate group of companies filed for bankruptcy.

As early as Wednesday, LedgerX planned to make US$175 million available for use in FTX's bankruptcy proceedings from a US$250 million fund the company set aside as part of that application.

CFTC chairman Rostin Behnam previously told lawmakers his agency is in daily communication with LedgerX amid the FTX turmoil, however, the potential

FTX unit sale attracts big guns