According to sources, Backpack confirmed the acquisition of FTX EU.
https://cincodias.elpais.com/criptoactivos/2025-01-07/backpack-compra-ftx-eu-y-se-compromete-a-devolver-el-dinero-a-los-clientes-afectados-por-su-quiebra.html?utm_source=chatgpt.com
Backpack acquired FTX EU and promised to return the funds to affected customers.

After Backpack acquired ftxeu, who does the claim belong to?
After Backpack's acquisition of FTX EU (FTX Europe), it will be responsible for distributing the court-approved bankruptcy claims funds to FTX EU's customers. This means that the claims of FTX EU customers will be handled and returned by Backpack. Backpack CEO Armani Ferrante stated that compensating customers is a key step in rebuilding industry trust and confidence, and Backpack is committed to returning FTX EU customers' funds as quickly and safely as possible. Additionally, Backpack EU plans to launch in the first quarter of 2025 and will offer cryptocurrency derivatives trading services, including perpetual futures, in the EU.

So, who does the acquisition funds belong to?
According to current information, the funds from Backpack's acquisition of FTX EU will belong to the bankruptcy management agency of FTX EU or its related creditors. This is typically part of the bankruptcy process, where the acquisition funds are used to settle FTX EU's debts and compensate existing creditors.

In other words, this funding will ultimately be used to settle FTX EU's financial obligations, and the distribution will be made according to the bankruptcy plan approved by the court. For further confirmation, it is recommended to consult FTX EU's bankruptcy management report or relevant court documents for detailed information.

But did the FTX US bankruptcy only cover FTX US users?
According to known information, the bankruptcy proceedings of FTX US (FTX Trading Ltd.) primarily cover the assets and claims of FTX US users, but it also includes the assets and subsidiaries of the entire FTX group, depending on the legal structure and financial relationships of each subsidiary with the parent company.

Regarding the situation of FTX EU:

  1. FTX EU's bankruptcy proceedings:
    FTX EU (FTX Europe) operates as an independently registered entity and undergoes liquidation procedures according to local laws, such as the potential jurisdiction of the Cyprus Securities and Exchange Commission (CySEC). Therefore, its bankruptcy may be related to the liquidation process of FTX US.Partially related but independently handled..

  2. Claim distribution:
    If FTX EU's assets (including acquisition funds) are insufficient to cover the debts of users in that region, it may need to rely on the overall FTX group's bankruptcy liquidation plan for distribution. However, the bankruptcy proceedings in US courts primarily focus on FTX US and its directly related users; users in Europe and other regions usually have their own legal avenues to resolve issues.

  3. Differences in fund handling:
    Currently, the part of FTX EU acquired by Backpack may not be directly included in the US bankruptcy liquidation asset pool, but rather distributed according to local bankruptcy procedures in Europe or Cyprus, leaning towards compensating European users' claims.

Summary:

The primary scope of the FTX US bankruptcy liquidation is the users of FTX US, but it may involve global asset allocation; while the liquidation of FTX EU and user compensation is usually handled separately under European legal frameworks, the specific details may vary based on agreements between the parties or court rulings.

#I believe we are just a step away from resurrection.