10 December 2019 06:34
Bitcoin derivatives platform LedgerX announced today that both of its co-founders Paul and Juthica Chou have been placed on administrative leave. Paul Chou was the firm's CEO while Juthica Chou was the president and chief risk officer, per their LinkedIn profiles. They are also husband and wife. As a temporary replacement, Larry E. Thompson will act as interim CEO and lead director of Ledger Holdings.
A Wall Street veteran, Thompson was the former vice-chair of the Depository Trust & Clearing Corporation (DTCC). LedgerX offers bitcoin options contracts to both retail and institutional investors. LedgerX made headlines in August after the announcement of a new physically-delivered futures product soured. After announcing the new product, a source told The Block the firm hit a snag with the Commodities Futures Trading Commission. Indeed, the firm never secured the proper licensing to offer futures to retail clientele, the agency later confirmed to The Block.