Backpack Exchange’s claim of acquiring FTX EU faces sharp opposition from the FTX bankruptcy estate. The Dubai based exchange announced a $32.7 million acquisition of FTX EU to boost its derivatives offerings but FTX’s US estate claims ownership of the European unit remains unresolved.

Backpack, which announced its acquisition of the European arm of bankrupt exchange FTX on Monday, has not been authorized by FTX to make any distributions to any FTX customers or other creditors, the FTX bankruptcy estate said.

A day after the official acquisition announcement, FTX estate disputes Backpack claims. Backpack claimed to have paid $32.7 million to acquire FTX EU. FTX estate

Backpack Exchange acquires FTX EU, prioritizing customer fund returns, MiFID II license, and expanding crypto trading across Europe.

Backpack Exchange, a fully regulated global cryptocurrency exchange, today responded to statements made by FTX Trading LTD (d/b/a. FTX.com)

Backpack Exchange acquires FTX EU, expanding its global presence and planning to launch regulated crypto trading services in the European Union in Q1 2025.

Backpack Exchange buys MiFID II-authorized FTX EU to broaden its capabilities in Europe, offering secure, regulated crypto trading.

Backpack acquires FTX EU for $32.7M, gaining CySEC approval to offer regulated perpetual futures in the EU by Q1 2025.

The Acquisition approved by the FTX bankruptcy court and Cyprus Securities and Exchange Commission (CySEC) will allow Backpack Exchange to offer expanded Cryptocurrency products and services in the EU region. This acquisition also transfers FTX EU's bankruptcy claim to Backpack.

Backpack Exchange acquires FTX EU, ensuring regulatory compliance and handling customer claims. This strengthens its European