The board of administrators of Ledger Holdings, Inc., mum or dad firm to LedgerX, introduced that co-founders Paul and Juthica Chou have been positioned on body depart, efficient instantly.
In a Dec. 9 press launch, the Bitcoin (BTC) derivatives change LedgerX defined that the 2 executives shall be changed by Larry E. Thompson as interim chief government officer and lead director of Ledger Holdings. Thompson brings with him the expertise of a 30-year profession on Wall Street.
It corset unclear why the board of administrators have determined to put each executives on body depart. However, Juthica Chou, took to Twitter the place she mentioned that no actual causes have been given, besides that they “had long-lasting disagreements with the board about the vision and direction of the business.”
Controversy between LedgerX and the CFTC
At the start of August, the United States Commodity Futures Trading Commission (CFTC) reportedly acknowledged that LedgerX’s physically-settled bitcoin futures product weren’t but authorized by the Commission. LedgerX mentioned on July 31 that its bodily futures providing went reside on its Omni buying and merchandising platform.
However, the CFTC steered that this might not have occurred. Derivative specialist Thomas G. Thompson noted on the time that “the CFTC does not show any futures contracts certified by” the agency. On the identical day Paul Chou took to Twitter to take goal on the CFTC in a number of expletive-laden tweets.
In September, an argument involving the CFTC was sparked by LedgerX’s declare that the company’s former chairman, Christopher Giancarlo, barred the approval of its amended Derivatives Clearing Organization registration attributable private bias con to LedgerX CEO Paul Chou.