Backpack has introduced a new platform that allows FTX claim holders to sell their assets directly without any fees. This initiative aims to support FTX users amid financial difficulties.
Platform for Selling FTX Claims
Backpack has launched a platform where FTX claim holders can sell their assets while connecting identity verification, claim validation, and price confirmation. The entire process is conducted within the platform to reduce delays and minimize fraud risk. Users can choose between immediate claim sales or retaining them for potential future recovery from FTX.
Expansion with Credit and Bond Support
Backpack has expanded its services to include credit and bond sales support using the same fee-free model. The process features KYC checks, validation, and final settlement, providing users with a quick and safe alternative amid the challenges associated with FTX's bankruptcy.
Legal Aspects and Regulation
Backpack acquired FTX EU in January 2025 for €32.7 million, gaining control over €53 million in creditor repayments. However, the acquired company faces legal challenges as the FTX bankruptcy estate disputes the legality of the acquisition. Moreover, Cyprus regulators have fined Backpack €200,000 for compliance violations related to its oversight of FTX EU.
Backpack continues to offer claim sale access in jurisdictions such as China and Russia. The platform emphasizes that all claim sales are voluntary and should be based on users’ personal judgment.
