FTX Bankruptcy Estate Disputes Sale of FTX EU to Backpack Exchange

The FTX bankruptcy estate disputes the sale of FTX EU to Backpack, a firm founded by former FTX employees. Key points include:

Backpack is not part of the U.S. Bankruptcy Court-approved process for returning funds to FTX customers and creditors.
A press release from Backpack regarding the acquisition was issued without FTX's knowledge or involvement.
Backpack plans to repay FTX EU creditors and operate a regulated crypto derivatives service.
FTX bankruptcy estate stated Backpack has no authorization to distribute any funds to FTX customers, including former FTX EU customers.
The sale of FTX EU was approved by the bankruptcy court in March 2024 to Patrick Gruhn and Robin Matzke, who co-founded Digital Assets.
Backpack claims to have completed the purchase of FTX EU from Gruhn and Matzke, which was approved by CySec in December 2024.
FTX EU will be renamed Backpack EU, which will handle the redistribution of former customer funds.
Gruhn initiated a change of control proceeding with CySec for the transfer of shares as required for regulated investment firms.

Both parties emphasize their lack of direct relationship concerning fund distributions from the U.S. bankruptcy estate.