Backpack Launches FTX Debt Marketplace for Creditors to Sell Claims to Third-Party Buyers

Key Points

1. Backpack Exchange launched a non-profit claims sale channel for FTX creditors to sell bankruptcy claims to third-party buyers.

2. FTX has distributed $6.2 billion across two major payment rounds, with varying distribution rates depending on claim categories.

3. Creditors in 49 restricted jurisdictions, including China, face uncertainty, with Chinese users accounting for 82% of disputed $800 million claims.

4. Backpack acquired FTX EU and plans to oversee fund distribution to European customers under the Backpack EU brand.

5. Sam Bankman-Fried remains imprisoned until 2044, while the Justice Department seeks the return of $13.25 million in political contributions linked to former FTX executives.