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Acquisition of FTX EU by Backpack Exchange

Tuesday. January 7 at 6:00 PM

1 min. read

Backpack Exchange, a centralized cryptocurrency exchange (CEX) founded by former Alameda Research and FTX employees, has acquired FTX EU, the former European arm of the defunct FTX exchange. The acquisition, approved by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC), allows Backpack to expand in the EU. The new European entity will offer crypto derivative services, including perpetual futures. Backpack EU will distribute funds to FTX EU customers as part of the bankruptcy claims process. After a license re-activation, Backpack EU plans to go live in Q1 2025, providing support for new users and FTX EU customers. This acquisition follows FTX EU's suspension extension by CySEC and marks another chapter in Backpack's history. Founded in 2022, Backpack Exchange aims to rebuild trust in the industry by returning customers' funds quickly and safely.

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Acquisition of FTX EU by Backpack Exchange

Tuesday. January 7 at 6:00 PM

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Crypto ETFs Lead Fund Launches in 2024

Tuesday. December 31 at 5:00 PM

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Gate.io Milestones Propel GateToken to New Heights

Monday. December 23 at 11:00 PM

In December, Gate.io's native token GateToken (GT) reached a record high of $14.01, driven by a surge in user numbers and the release of its December reserve report. Despite a market downturn, GateToken currently stands at $13.07. GT, used for transaction fees and VIP benefits on Gatechain, saw a significant rise due to increased user activity, sports sponsorships, and a robust reserve report. Gate.io's reserves hit $9.566 billion, surpassing industry standards, with excess reserves exceeding $1.846 billion. The platform's Chief Business Officer revealed a reserve fund exceeding $10 billion, making Gate.io the fourth-largest globally. With over 20 million users, Gate.io's success is further highlighted by its partnership with Inter Milan and commitment to security and innovation. The platform aims to solidify its market position and brand influence through continuous enhancements.

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WhiteBIT: A Year of Milestones and Growth

Friday. December 20 at 4:00 AM

WhiteBIT, Europe's top cryptocurrency exchange, has achieved significant milestones in 2024. With a market capitalization of $38.9 billion and a trading volume of $2.7 trillion, the company has seen a remarkable 200% increase in trading activity. Surpassing major players like Kraken, WhiteBIT's trading volume rivals the GDP of countries like Italy and Canada. CEO Volodymyr Nosov attributes this success to innovative strategies and client trust. The exchange's growth can be attributed to onboarding institutional clients, offering low fees, and robust technical infrastructure. With over 30 million global users, WhiteBIT offers a range of services including a decentralized exchange, NFT marketplace, and proprietary blockchain. Recognized for its security measures, WhiteBIT plans to enter the US market. As a leader in the crypto ecosystem, WhiteBIT remains committed to growth and innovation.

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