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Backpack Acquires FTX Europe to Relaunch Regulated Crypto Services
Backpack
January 5, 2025
Backpack Acquires FTX Europe to Relaunch Regulated Crypto Services
Backpack, the crypto exchange founded by former FTX and Alameda staff, has acquired FTX Europe in a deal approved by Cypriot regulators. The acquisition includes licenses previously held by FTX EU and enables Backpack to offer regulated crypto trading services across the European Economic Area.
Armani Ferrante, CEO of Backpack, emphasized the importance of compliance in the company’s global expansion. The deal marks one of the first successful asset acquisitions from the FTX bankruptcy estate and is part of Backpack’s broader effort to rebuild trust in centralized exchanges through regulated, transparent infrastructure.
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