PANews reported on January 7 that FTX EU, the bankrupt European branch of FTX, has been acquired by Backpack Exchange for $32.7 million. FTX EU previously held a MiFID II license issued by the Cyprus Securities and Exchange Commission (CySEC).

Armani Ferrante, CEO of Backpack Exchange, said that the company plans to become the only regulated perpetual contract provider in Europe and has submitted a MiCA notification, which is expected to go online in the first quarter of 2025. In addition, Backpack plans to launch a full range of crypto derivatives services, giving priority to the launch of regulated perpetual futures products, and promises to give priority to the return of FTX EU customer funds.

Currently, several exchanges, including Coinbase and Bitstamp, have obtained MiFID II licenses.

It is reported that the Backpack founding team had previously participated in the construction of the Solana ecosystem and successfully launched wallet and NFT businesses, and completed US$17 million in financing last year.