FTX Says Backpack’s FTX EU Acquisition Still Pending Court Approval

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Cryptocurrency exchange FTX has stated that its European branch, FTX EU, has not been officially acquired by Solana-based exchange Backpack.

The US Bankruptcy Court for the District of Delaware has not approved of this acquisition, and Backpack does not have the authority to manage repayments for creditors, despite their claims.

On January 7, Backpack announced that they had acquired FTX EU and would handle creditor repayments as part of the bankruptcy process.

However, FTX has declared this acquisition as unauthorized and not approved by the bankruptcy court. They have also stated that the Backpack press release was issued without their knowledge or involvement.