The FTX bankruptcy estate has disputed the recently announced sale of FTX EU to Backpack, the cryptocurrency exchange and wallet firm founded by former FTX and Alameda employees.The FTX estate said Backpack “has no involvement whatsoever in the U.S. Bankruptcy Court-approved process for returning funds to any FTX customers and other creditors,” and that a press release about the sale from Backpack on Monday was issued without the knowledge or in…

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FTX Bankruptcy Estate Hits Out Over 'Unauthorized' Sale of FTX EU to Backpack Exchange

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.

Cointelegraph

FTX says Backpack acquisition of EU arm has not been approved by court

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Former FTX and Alameda employees buy back the EU arm of the defunct exchange.

CryptoPanic

Backpack Exchange Acquires FTX EU

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

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Backpack Has No Involvement in U.S. Bankruptcy-Approved Process for Returning Funds to FTX Creditors

TBNweekly

FTX Clarifies Certain Statements by Backpack Regarding Backpack's Purported Acquisition of FTX EU

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FTX, a cryptocurrency exchange, has recently acquired a backpack company, and it seems that the court was not aware or did not approve of it. This unexpected acquisition has raised concerns within the industry. This move by FTX has sparked debates and discussions among industry experts and enthusiasts. The lack of transparency and approval from the court has created uncertainty and doubts among stakeholders. The acquisition of the backpack compa…

Crypto Breaking News

Court has not approved Backpack acquisition of EU arm, says FTX

The bankrupt FTX exchange has challenged the announced sale of its European subsidiary, FTX EU, to Backpack, a crypto platform founded by former FTX employees. In a Jan. 8 statement, FTX clarified that its subsidiary FTX Europe AG wholly owns FTX EU. The company stated that the anticipated transfer of FTX EU shares to former insiders of FTX Europe has not occurred as previously disclosed. FTX also clarified that the United States Bankruptcy Cour…

CryptoSlate

FTX and Backpack dispute sale of European arm to former insiders' crypto platform

Backpack Exchange's acquisition of FTX EU faces ownership disputes with the FTX bankruptcy estate, highlighting complex legal and ...

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Backpack's Purchase of FTX EU Raises Ownership Dispute

Backpack Exchange responded to FTX's claims hours after the bankrupt exchange called the acquisition of its Cyprus entity unauthorised. The latest press release from Backpack emphasised that it has already purchased FTX EU from former insiders, with the transaction “completed and reflected on official publicly available German court records since June 2024.”A Done Deal?FTX sold its Cyprus-based FTX EU to “certain former insiders” in February 202…

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Backpack Hits Back at FTX: Asserts Ownership Claim on the Cypriot Entity

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FTX Bankruptcy Estate Hits Out Over 'Unauthorized' Sale of FTX EU to Backpack Exchange

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