- Backpack’s acquisition of FTX EU expands its services across the European Union.
- CEO Ferrante emphasizes swift restitution to rebuild trust in the crypto industry.
- FTX EU’s ownership history highlights multiple attempts before Backpack’s acquisition.
Backpack, the crypto exchange founded by former Alameda Research and FTX employees, has acquired FTX EU. This acquisition allows Backpack to expand its services in the European Union with plans to offer crypto derivatives, including perpetual futures, starting in Q1 2025.
Backpack to Handle FTX EU Customer Restitution
A key part of this acquisition is Backpack’s commitment to handling the bankruptcy claims process for FTX EU customers. Backpack EU will distribute funds to these customers.
CEO Armani Ferrante stressed the importance of returning customer funds quickly and securely. “Customer restitution is crucial to rebuilding trust in the industry,” Ferrante said.
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