FTX EU confirms acquisition of Backpack and has informed FTX

In response to Backpack Exchange's announcement that it had acquired FTX EU, US-based FTX estate said: "As of today, 100% of FTX EU is held by FTX subsidiary FTX Europe AG," and the previously announced transfer of shares to insiders has not yet occurred. In response to FTX's statement, Backpack said the sale to the co-founders was completed in May and "payments have been made to FTX estate in accordance with the terms of the purchase." Later, Backpack said in a statement that it acquired FTX EU from FTX EU insiders. Backpack said the deal was approved by the Cyprus Securities and Exchange Commission last month. "Following approval, FTX Assets is obliged to transfer shares in accordance with the court-approved sales and purchase agreement," Backpack said. Patrick Gruhn, one of the co-founders of FTX EU, confirmed the deal with Backpack and said his lawyers notified FTX of the Cyprus regulator's approval on Monday, but had not received any response. FTX's lawyers did not immediately respond to a request for comment. (Bloomberg)