Backpack EU: The Cryptocurrency Marvel Rises from FTX Ashes 🚀

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Oh, dear readers, let me tell you a tale so fantastical, it could only happen in the world of cryptocurrencies. Backpack Exchange, a name that once whispered through the corridors of global trading platforms, has now taken to the social media stage to announce the grand unveiling of its rebranded platform. Imagine, if you will, a phoenix rising from the ashes, but in this case, it’s a backpack 🎒 soaring over the European landscape, ready to carry the hopes and dreams of crypto enthusiasts.

According to the proclamation, Backpack EU is now live, standing proudly as one of the first exchanges to offer regulated perpetual futures in Europe. It’s like a medieval market where you can trade not just apples and oranges, but the future of… well, everything! But here’s the twist: they’re only letting 100 lucky souls into their private beta each day. It’s like trying to get a front-row seat at a concert where the band hasn’t even been announced yet!

Offerings of the New Backpack EU

On the fateful day of September 8, Backpack Exchange declared that Backpack EU had officially seen the light of day. This monumental event positions the company as one of the pioneers of the first fully regulated platforms in Europe to offer crypto derivatives. Can you imagine? A place where your dreams of becoming a crypto baron can be legally nurtured and grown!

Backpack EU is here 🎒🇪🇺

Today, we’re live as one of the first exchanges to offer regulated perpetual futures in Europe.

Private Beta access is limited to 100 spots per day, every day.

Join the waitlist now:

– Backpack 🎒 (@Backpack) September 8, 2025

Armani Ferrante, the illustrious CEO, with a twinkle in his eye, shared, “As far as I’m aware, it’s just going to be us and Kraken” in Europe. It’s like being part of an exclusive club where the password is a complex algorithm and the initiation ritual involves a deep understanding of blockchain technology.

Looking ahead, Backpack EU promises to provide users with access to more than 40 trading pairs, each with up to 10x leverage. It’s like having a superpower, except instead of flying, you can multiply your investments. The team behind this marvel emphasizes strict adherence to European regulations, ensuring that while you’re flying high with your trades, you’re doing so within the bounds of the law.

Backpack Exchange is dedicated to building a reputation that shines brighter than the sun, helping investors regain trust in digital currencies, especially after the unfortunate demise of FTX and other exchanges. Ferrante wisely notes, “Building trust may take a long time, and our approach has always been to just try to get better every day and do the right thing at every step of the way.” It’s a noble quest, akin to a knight’s journey to restore honor to a fallen kingdom.

Backpack Finalizes FTX EU Acquisition and Rebrands as Backpack EU

In the early days of 2025, Backpack Exchange achieved what many thought impossible: the successful acquisition of FTX EU, the European branch of the once-mighty Sam Bankman-Fried-led crypto exchange. This feat was accomplished after receiving the blessings of the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC). It’s like a fairy tale come true, where the good guys win and the bad guys… well, they’re still figuring things out.

This strategic move aligns perfectly with Backpack Exchange’s vision of delivering secure and regulated trading services across the continent. With this acquisition, Backpack’s presence in Europe has been fortified, and plans are already in motion to expand the range of cryptocurrency derivatives available to traders, including the ever-popular perpetual futures.

Upon announcing the rebranding of FTX EU to Backpack EU, the company made it clear that it would take the reins in redistributing customer funds. This monumental task, which took nearly nine months to complete, was a testament to Backpack’s commitment to transparency and accountability.

Backpack Exchange Repays FTX EU Customers

Despite the initial hiccups and disputes that marred the sale of the exchange, Backpack Exchange has emerged victorious, fulfilling its promise to repay FTX EU customers. Initially, the FTX Estate cast a shadow of doubt, questioning the legitimacy of the sale and press release. However, after some diplomatic negotiations, the clouds parted, and the pre-repayment process began.

In May, Backpack officially kicked off the withdrawal process for eligible FTX EU customers, guiding them through a two-step verification and submission ordeal. The claims verification process, which commenced on April 1, marked a significant milestone in Backpack’s journey to restore faith and order in the crypto community.

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2025-09-08 20:57