Backpack Exchange Acquires FTX EU: What It Means for Creditors 🇪🇺
Backpack Exchange, founded by former FTX employees, has acquired FTX EU. This deal, approved by the FTX bankruptcy court and CySEC, marks a bold step to revive regulated crypto trading services in Europe. Backpack will use FTX EU’s MiFID II license to offer a comprehensive range of cryptocurrency derivatives.
No other regulated entity currently offers such derivatives in the EU. Armani Ferrante, CEO of Backpack Exchange, emphasizes that adhering to regulations is crucial for rebuilding trust in the crypto industry. The platform plans to launch in Q1 of 2025, offering seamless integration with traditional payment systems like SEPA transfers.
Moreover, Backpack plans to distribute court-approved FTX bankruptcy claims to FTX EU customers, focusing on euro-denominated funds. This acquisition aims to bring secure and transparent crypto trading back to the European market, described by Ferrante as “underserved.”
The acquisition also clarifies the distribution of funds related to FTX’s bankruptcy, reassuring FTX EU customers that their crypto claims remain with the FTX bankruptcy estate. Backpack will handle only euro funds.
Emails with detailed instructions for affected customers will be sent soon. While the FTX EU revival, under Backpack’s ownership, marks a positive step for the European crypto scene, global expansion is evident from a recent license secured in Dubai.
With its MiFID II license and solid regulatory framework, Backpack is set to fill a critical gap in the market. This initiative reflects a significant move to make Europe a hub for regulated crypto activities, rebuilding confidence after major collapses like FTX.
مقالات مشابه
The Daily: Backpack acquires FTX EU, Bitcoin and Ethereum ETFs clock over $1 billion worth of inflows and more
Backpack Exchange and FTX clash over FTX EU ownership
FTX Bankruptcy Estate Hits Out Over 'Unauthorized' Sale of FTX EU to Backpack Exchange
FTX EU Sold to Backpack Exchange, Plans Regulated Crypto Derivatives Push Across Europe
Backpack seeks to clarify EU entity acquisition deal following FTX estate’s dispute over certain claims
FTX EU creditors can now withdraw money from Backpack exchange
New FTX EU Owner Backpack Initiates Customer Claims Process
Backpack kicks off FTX EU asset recovery process for customers
FTX says Backpack acquisition of EU arm has not been approved by court
Backpack Exchange acquires FTX EU, plans Q1 2025 launch
FTX EU acquired by Backpack Exchange, an exchange founded by previous FTX and Alameda employees
Backpack Exchange Acquires FTX EU After Approval by Bankruptcy Court and Cyprus SEC
Backpack Launches FTX Debt Marketplace for Creditors to Sell Claims to Third-Party Buyers
FTX EU Users Can Now Withdraw Euros via Backpack Amid Legal Dispute
Backpack’s Purchase of FTX EU Raises Ownership Dispute
Backpack Exchange Completes FTX EU Acquisition to Expand in Europe
Backpack Addresses FTX EU Acquisition Controversy, Plans to Return Customer Funds
FTX Denies Approval Of FTX EU Acquisition By Backpack Amid Bankruptcy Proceedings
Backpack Exchange Reshapes European Crypto Landscape After FTX Collapse
Backpack Takes Charge of FTX EU Amid Legal Disputes
Backpack launches fund claim process for EU customers following acquisition of FTX’s EU arm
Backpack launches FTX debt marketplace for claim holders
Backpack Launches Platform to Empower FTX Creditors
From Collapse To Comeback? Ex-FTX And Alameda Employees Acquire European Subsidiary
Backpack acquires FTX EU: a new era for cryptocurrencies in Europe?
Backpack Opens FTX Claims Sale Channel Amid Global Payout Disputes
“Unauthorized Sale” FTX Bankruptcy Estate Disputes Backpack’s Acquisition of FTX EU
FTX EU Sale to Backpack Remains Incomplete Despite Initial Announcement
Ex-FTX Employees’ Backpack Exchange Buys FTX EU for $32.7M, Will Refund Customers
FTX Exposes Backpack’s Misleading Acquisition Of Acquiring FTX EU
Backpack Exchange Revives Europe’s Crypto Scene
Backpack Exchange Acquires FTX EU: A Game-Changer for Crypto in Europe
FTX Breaks Silence On Backpack’s Alleged Acquisition Of The Defunct Exchange
Breaking: Backpack Exchange Acquires FTX EU Amid Global Expansion Plan
FTX EU Fund Claims: Backpack Finally Opens Euro Withdrawals
Backpack Acquires FTX EU, Crypto Derivatives Launch by Q1 2025
Backpack Secures FTX EU Amid Controversy
Crypto Exchange Opens Marketplace for Chinese FTX Creditors to Sell Claims
Backpack Facilitates Creditor Claims Directly
FTX Slams Backpack’s Misleading FTX EU Fund Distribution Claims
Backpack Enables Former FTX EU Users to Reclaim Euro Balances After KYC Verification Process
Backpack Exchange Claims Ownership of FTX EU Amid Dispute with FTX Estate Over Creditor Repayments
Backpack Launches No-Fee Platform to Potentially Aid FTX Creditors in Selling Claims
Backpack Acquires FTX EU: A New Era for Cryptocurrency Derivatives Trading in the EU
FTX Disputes Backpack’s Claims on EU Acquisition and Creditor Repayments
Backpack Secures FTX EU Acquisition: A Major Milestone for Cryptocurrency Compliance in the European Market
Backpack Exchange May Explore Acquiring FTX Claims to Aid Creditors Using Solana Blockchain
Backpack Exchange Acquires FTX EU: Opportunities for Customer Fund Restitution Amid Regulatory Changes
Backpack Launches Fee-Free FTX Claims Sale Channel Amid Skepticism and Global Creditor Challenges
Backpack May Expand Fee-Free FTX Claim Sales and Recovery Access Amid Ongoing Legal Challenges
Backpack Launches No-Fee Portal to Facilitate FTX Claim Sales for Users in Restricted Regions
Backpack Finalizes Acquisition of FTX EU: Court Approval and Regulatory Compliance Achieved
