FTX EU, the European arm of Sam Bankman-Fried's bankrupt crypto empire, has been sold to Backpack Exchange, a company founded by former Alameda Research and FTX employees.
The deal was valued at $32.7 million. Backpack plans to offer a full range of crypto derivatives in the EU, becoming the only regulated provider of perpetual futures in Europe.
The company has filed a MiCA notification and expects to begin operations in Q1 2025.