Backpack Acquires FTX EU for $32.7 Million Amid Dispute
Backpack has acquired FTX EU for $32.7 million. Following this announcement, FTX issued a statement claiming it was unaware of the acquisition and denied responsibility for repaying FTX EU customers. Backpack responded by asserting its ownership and announcing plans to rename FTX EU to Backpack EU.
The acquisition arises from complex legal issues surrounding FTX EU. FTX previously sued its European arm to recover funds lost during expansion efforts, resulting in a settlement where FTX EU's founders repurchased the company before selling it to Backpack.
Key points:
- Backpack purchased FTX EU for $32.7 million.
- FTX denies awareness of the sale and rejects repayment obligations.
- Backpack will rename FTX EU to Backpack EU.
- Previous ownership changes involved a lawsuit settlement.
- Backpack faces scrutiny over the price paid for an asset reportedly unwanted by others.