#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 exchange that collapsed late last year. The acquisition comes as bitcoin and ether exchanges saw inflows exceeding $1 billion, with U.S. spot bitcoin and ether 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 FTX. FTX EU collapsed at the end of 2022. The acquisition marks a significant step for Backpack Exchange in establishing its presence in the cryptocurrency market. Meanwhile, inflows into Bitcoin and Ethereum exchanges have surpassed $1 billion, with US 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. These events suggest that investors remain confident in the cryptocurrency market despite the FTX collapse. CFTC Chairman Rostin Behnam will step down on January 20, with his last day at the agency set for February 7.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Backpack Exchange acquires FTX EU, marking the relaunch of FTX's European operations.
Backpack Exchange was founded by former FTX and Alameda Research employees, indicating that FTX team members are seeking new opportunities.
Bitcoin and Ethereum ETF inflows exceed $1 billion, demonstrating continued investor interest in the cryptocurrency market.
CFTC Chairman Rostin Behnam will step down on January 20, which could have implications for cryptocurrency regulation.