🔥 FTX EU acquired by former employees

Backpack Exchange – the exchange founded by former FTX and Alameda Research employees – has officially acquired FTX EU after receiving approval from the bankruptcy court. Backpack will be responsible for refunding FTX EU users.

Backpack Exchange has raised $120 million in Series A funding, and the acquisition of FTX EU is a first step for the exchange to expand in the European market.

Backpack EU is expected to launch in Q1 2025, offering futures trading and supporting payments via SEPA - a payment method in the EU.

According to the same news, the NFT collection Mad Labs has also surged, and the number of people starting to farm Backpack airdrops is quite significant.