The FTX bankruptcy estate has disputed the sale of FTX EU to Backpack, a cryptocurrency exchange and wallet company founded by previous employees of FTX and Alameda.
According to the estate, Backpack has no involvement in the authorized process for returning funds to FTX customers and other creditors, and the press release about the sale was issued without FTX’s knowledge or approval.
Backpack announced plans to pay back FTX EU creditors and operate a regulated crypto derivatives service, but the FTX bankruptcy estate clarifies that Backpack has not been authorized to make any distributions to FTX customers or other creditors.
In March 2024, the FTX bankruptcy court approved the sale of FTX EU to Patrick Gruhn and Robin Matzke, the co-founders of Digital Assets. Gruhn and Matzke played a role in FTX’s expansion into Europe.
