FTX: Backpack's acquisition of FTX EU has not yet been approved by the court and has not been authorized to distribute funds to creditors

Odaily Planet Daily reported that the bankrupt cryptocurrency exchange FTX has stated that the acquisition of its European subsidiary FTX EU by Backpack has not yet been approved by the bankruptcy court, and Backpack has not been authorized to distribute funds to FTX creditors. Backpack announced on January 7th that it has acquired FTX EU and stated that it will be responsible for repaying creditor payments to EU clients in accordance with court approved bankruptcy proceedings. Backpack founder Armani Ferrante stated that the exchange will not "conduct any transactions in the EU" until it is able to repay FTX creditors, and stated that it will be prepared as early as February. However, FTX stated in a statement on January 8th that the "so-called" acquisition of FTX EU by Backpack has not yet occurred and has not yet been approved by the US Delaware bankruptcy court, and added that all statements made by Backpack were made without FTX's knowledge. FTX stated that the FTX debtor had previously agreed to sell FTX EU to "certain former insiders" of FTX Europe under the supervision of the bankruptcy court in accordance with the settlement agreement, but was only informed that these former insiders had agreed to indirectly transfer FTX EU to Backpack. FTX stated that prior to this week, neither FTX nor the US bankruptcy court had been informed 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） Yesterday's news revealed that Backpack Exchange has acquired FTX EU for $32.7 million and will be responsible for distributing $55 million in FTX bankruptcy claims.