Backpack has officially completed the acquisition of FTX EU's assets, despite FTX's concerns over US court approvals.
FTX Clarifies Its Position
FTX has raised concerns over Backpack’s acquisition of FTX EU. In a press release, FTX clarified that the acquisition was not approved by the U.S. Bankruptcy Court, and Backpack was not authorized to distribute funds to FTX customers, including those at FTX EU.
Backpack’s Response
Backpack has defended its actions, stating that the acquisition was legally compliant. The company clarified that FTX EU's assets were transferred to insiders, from whom Backpack purchased them under estate supervision.
The Future of Backpack EU
The newly acquired platform, Backpack EU, is set to launch in Q1 2025 as a fully regulated exchange, offering a complete suite of cryptocurrency derivatives, including perpetual futures.
Backpack is committed to providing a secure and transparent trading platform, despite ongoing legal uncertainties surrounding its FTX EU asset acquisition.
