News with the tag "Backpack"

Backpack Exchange has said it would officially launch withdrawals for former FTX EU users today. The exchange completed the FTX EU acquisition in January 2025. The firm also launched a KYC page to prepare for the withdrawal. Backpack announced it would distribute about $55 million to users affected ...

For many who were impacted by the unfortunate events surrounding the FTX collapse, the path to recovering assets has been long and uncertain. However, there’s a significant positive development specifically for FTX EU Users . The Solana-based Backpack Exchange , which took over FTX EU operations, ha...

The world of decentralized finance and centralized crypto platforms continues to evolve rapidly. A significant development recently announced by Backpack, a prominent Solana-based crypto exchange, signals a major step in how exchanges manage their reserves and potentially benefit their users. This a...

The ownership of FTX EU has become a point of contention between Backpack Exchange and the FTX estate.

Backpack Exchange’s claim of acquiring FTX EU faces sharp opposition from the FTX bankruptcy estate. The Dubai based exchange announced a $32.7 million acquisition of FTX EU to boost its derivatives offerings but FTX’s US estate claims ownership of the European unit remains unresolved. Backpack repo...

Bankrupt cryptocurrency exchange FTX has publicly denied claims made by Backpack regarding the acquisition of its European subsidiary, FTX EU. In a statement on January 8, FTX clarified that the purported acquisition had neither been approved by the U.S. Bankruptcy Court for the District of Delaware...

FTX says that Backpack has not been authorized to return funds to creditors despite the Solana exchange saying it would take over creditor repayments from FTX.

FTX issued a formal statement clarifying details surrounding Backpack entities’ claim of acquiring FTX EU Ltd. The clarification, released on January 8, 2025, addresses inaccuracies in Backpack’s January 7 press release, which suggested its involvement in asset recovery for former FTX EU customers. ...

Backpack Exchange, a crypto trading platform founded by former FTX and Alameda Research employees, is acquiring FTX EU for $32 million. According to a new announcement from the European-based crypto exchange and wallet Backpack, the exchange has bought out the European arm of FTX. “Backpack has acqu...

Backpack Exchange, a cryptocurrency platform founded by former FTX and Alameda Research employees, has stepped forward to handle the distribution of bankruptcy claims for FTX EU customers. The process follows a court-approved settlement aimed at compensating affected users. FTX EU Customers to Recei...