TechFlow news, January 9 — According to The Block, Backpack has issued a clarification statement regarding its acquisition of FTX EU. Previously, the FTX bankruptcy administrators stated that Backpack announced the acquisition without their knowledge and does not have the right to participate in the FTX creditor repayment process.
Backpack responded that the FTX bankruptcy administrators sold the European assets to former insiders in February 2024, and Backpack subsequently acquired those assets from the insiders in June, with approval already obtained from the Cyprus Securities and Exchange Commission. Upon completion of the share transfer, FTX EU will be renamed Backpack EU and will have full authority to return funds to former FTX EU users.
