#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 exchange that collapsed in late 2022. The acquisition marks Backpack Exchange's attempt to carve out a space in the cryptocurrency market, leveraging FTX EU's existing infrastructure and customer base. Meanwhile, U.S. 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 indicates continued institutional interest in cryptocurrencies and could drive further market gains. CFTC Chairman Rostin Behnam is set to step down on January 20, with his last day at the agency being February 7. His departure will have implications for the CFTC's future regulation of cryptocurrencies, which is worth watching.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Backpack Exchange acquired FTX EU, the European arm of the FTX exchange that collapsed in late 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, helping Bitcoin briefly reclaim the $10,000 level before pulling back on Tuesday.
CFTC Chairman Rostin Behnam is set to step down on January 20, with his last day at the agency set for February 7.