#Backpack Acquires FTX EU#
Hot Topic Overview
Overview
Backpack Exchange, founded by former FTX and Alameda Research employees, has acquired FTX EU, the European arm of the cryptocurrency exchange that collapsed in late 2022. The acquisition comes amid over $1 billion in inflows to Bitcoin and Ethereum exchanges, with U.S. spot Bitcoin and Ethereum ETFs attracting over $1.1 billion in net inflows on Monday, helping Bitcoin briefly reclaim the $10,000 level before pulling back on Tuesday.
Ace Hot Topic Analysis
Analysis
Backpack Exchange, founded by former FTX and Alameda Research employees, has acquired FTX EU, the European arm of the FTX exchange that collapsed in late 2022. The acquisition marks the rebirth of FTX's European operations, with Backpack Exchange aiming to leverage FTX EU's existing infrastructure and user base to offer new cryptocurrency trading services to the European market. Notably, Backpack Exchange's acquisition comes amid over $1 billion in inflows to Bitcoin and Ethereum exchanges, indicating continued strong interest in cryptocurrencies. 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, further demonstrating institutional investor confidence in the crypto market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Backpack Exchange acquired FTX EU, the European arm of FTX, which collapsed at the end of 2022.
Backpack Exchange was founded by former FTX and Alameda Research employees.
US spot Bitcoin and Ethereum ETFs attracted over $1.1 billion in net inflows on Monday.
CFTC Chairman Rostin Behnam will step down on January 20, with his last day at the agency set for February 7.