#Backpack Acquires FTX EU#

Backpack Exchange, a cryptocurrency exchange founded by former FTX and Alameda Research employees, has acquired FTX EU, the European arm of FTX. FTX EU collapsed at the end of 2022. The acquisition marks Backpack Exchange's entry into the European market and could provide it with a platform to leverage FTX EU's existing user base and infrastructure. Meanwhile, US spot Bitcoin and Ethereum ETFs attracted over $1.1 billion in net inflows on Monday, helping Bitcoin briefly reclaim the $10,000 level before pulling back on Tuesday. This suggests that investor interest in crypto remains high and that ETFs may be an increasingly popular way to access the crypto market. CFTC Chairman Rostin Behnam is set to step down on January 20, with his last day at the agency set for February 7. His departure will bring new leadership to the agency and could impact how the agency regulates the cryptocurrency industry.