Backpack has purchased FTX's bankrupt European division for $32.7 million. This arm of FTX held a MiFID II-license, granted by the Cyprus Securities and Exchange Commission (CySEC). The acquisition aims to allow Backpack to push for regulated crypto derivatives across Europe. The deal marks a significant step in the company's ambition to expand its presence and regulatory compliance within the European financial markets. FTX EU's assets and licenses will now be leveraged by Backpack to enhance their offerings in the continent's growing crypto space.
