Backpack Exchange recently announced the acquisition of the defunct FTX EU, a move that has garnered significant attention within the industry. 🎉

As the former European branch of FTX, FTX EU will be reborn under new management, providing cryptocurrency derivatives services across the entire EU, including perpetual futures. 💼

It is noteworthy that Backpack EU will be responsible for distributing funds to FTX EU customers according to the court-approved bankruptcy claims process, which undoubtedly safeguards user rights. 🔒

It is expected that after reactivating the license, Backpack EU will officially launch in the first quarter of 2025, injecting new vitality into the market. 📈