Bankrupt crypto exchange FTX says the acquisition of its European arm FTX EU by crypto exchange Backpack has not been approved by the bankruptcy court, nor has Backpack been authorized to make distributions to FTX creditors.

A day after the official acquisition announcement, FTX estate disputes Backpack claims. Backpack claimed to have paid $32.7 million to acquire FTX EU. FTX estate

Tensions may have boiled over between FTX bankruptcy estate and Backpack, a wallet firm and crypto exchange, over FTX EU sale.

Backpack Exchange, a cryptocurrency trading platform founded by former FTX and Alameda Research employees, is acquiring FTX EU for $32 million.

The centralized crypto exchange Backpack announced on January 7 that it had successfully acquired the defunct crypto exchange FTX’s European branch, FTX EU. The exchange confirmed that FTX EU, which would become Backpack EU,

Backpack acquires FTX EU for $32.7M, gaining CySEC approval to offer regulated perpetual futures in the EU by Q1 2025.

FTX’s bankrupt European arm, which held a MiFID II-license under the Cyprus Securities and Exchange Commission (CySEC), was acquired by Backpack for $32.7 million.

An ownership dispute over FTX EU intensifies as Backpack Exchange and the FTX estate clash over creditor repayments.

Backpack Exchange acquires FTX EU, expanding its global presence and planning to launch regulated crypto trading services in the European Union in Q1 2025.

Backpack Exchange, a crypto trading platform founded by former FTX and Alameda Research employees, has purchased the former European assets of the bankrupted company for $37.7 million. Armani Ferrante,

Backpack Exchange, a fully regulated global cryptocurrency exchange, today announced the successful acquisition of FTX EU, the MiFID II-licensed former European arm of FTX. Approved by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC),