The Daily: Backpack acquires FTX EU, Bitcoin and Ethereum ETFs clock over $1 billion worth of inflows and more
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Backpack Exchange, founded by former FTX and Alameda Research employees, has acquired FTX EU — the European arm of the crypto exchange that infamously collapsed in late 2022.U.S. spot Bitcoin and Ethereum ETFs attracted more than $1.1 billion in combined net inflows on Monday, helping bitcoin to briefly reclaim the $100,000 level before Tuesday’s correction.CFTC Chair Rostin Behnam is stepping down from the role on Jan. 20, with his final day at the agency set for Feb. 7.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.