Odaily Planet Daily News: The bankrupt cryptocurrency exchange FTX has stated that the acquisition of its European subsidiary FTX EU by Backpack has not yet received approval from the bankruptcy court, and Backpack has not been authorized to distribute funds to FTX creditors. Backpack announced on January 7 that it had acquired FTX EU and stated that it would be responsible for repaying creditor amounts to EU customers according to the bankruptcy procedure approved by the court. Backpack founder Armani Ferrante stated that the exchange would not 'conduct any transactions in the EU' until it is able to repay FTX creditors, and indicated that it would be ready as early as February. However, FTX stated in a statement on January 8 that Backpack's 'so-called' acquisition of FTX EU has not occurred and has not received approval from the bankruptcy court in Delaware, USA, adding that all statements released by Backpack were issued without FTX's knowledge. FTX stated that FTX debtors had previously agreed to sell FTX EU to 'certain former insiders' of FTX Europe under the supervision of the bankruptcy court according to a settlement agreement, but indicated that they were only informed that these former insiders had agreed to indirectly transfer FTX EU to Backpack. FTX said: 'Prior to this week, neither FTX nor the U.S. bankruptcy court was aware of the indirect sale of FTX to Backpack. Backpack has not been authorized by FTX to make any distributions to any FTX customers or other creditors (including any former FTX customers).' (Cointelegraph) According to yesterday's news, Backpack Exchange acquired FTX EU for $32.7 million and will be responsible for distributing $55 million in FTX bankruptcy claims.