Backpack, which announced its acquisition of the European arm of bankrupt exchange FTX on Monday, has not been authorized by FTX to make any distributions to any FTX customers or other creditors, the FTX bankruptcy estate said.

Backpack Exchange claims it acquired FTX EU from insiders Patrick Gruhn and Robin Matzke, but FTX’s US bankruptcy estate disputes ownership.

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

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.

Backpack Exchange acquires FTX EU, prioritizing customer fund returns, MiFID II license, and expanding crypto trading across Europe.

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

Backpack Exchange, a fully regulated global cryptocurrency exchange, today responded to statements made by FTX Trading LTD (d/b/a. FTX.com)

Backpack Exchange buys MiFID II-authorized FTX EU to broaden its capabilities in Europe, offering secure, regulated crypto trading.

Backpack Exchange acquires FTX EU, ensuring regulatory compliance and handling customer claims. This strengthens its European

The Acquisition approved by the FTX bankruptcy court and Cyprus Securities and Exchange Commission (CySEC) will allow Backpack Exchange to offer expanded Cryptocurrency products and services in the EU region. This acquisition also transfers FTX EU's bankruptcy claim to Backpack.