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Backpack Exchange, founded by former FTX and Alameda employees, has acquired the bankrupt FTX former European entity for $32.70 million to expand the derivatives business it offers in the region. FTXEU was one of the business units that ultimately went bankrupt after FTX collapsed in 2022. As part of the acquisition, Dubai-based Backpack will be responsible for distributing FTXEU customers previously court-approved FTX bankruptcy claims of around 53 million euros ($55 million). Yesterday, it was...
Backpack Exchange, founded by former FTX and Alameda employees, has received approval from the Cyprus Securities and Exchange Commission and the FTX Bankruptcy Court to formally acquire FTX EU. Backpack Exchange will be responsible for distributing the bankruptcy claims of FTX EU users previously approved by the court. The exchange, valued at $120 million in its Series A funding round in early 2024, has been granted Dubai VARA and European Union MiFID II licenses. Scheduled to go live in Quarter...
Deblock, a crypto wallet created by former Revolut and Ledger executives, has closed an additional 13.30 million pounds (about $16.80 million) in seed funding, according to filings filed this month by the U.K. Companies Registry. Another October filing shows Headlines, Hoxton, 20VC and Chalfen as anchors for the round. Sifted previously reported that the startup quietly raised 12 million euros last year. According to reports, in August 2022, former Revolut cryptocurrency head Jean Meyer, payment...
On August 30th, Adot (a.xyz), a decentralized AI search network founded by former Google engineers, announced a strategic cooperation with Aptos and received its strategic investment. Previously, Adot has raised a total of 6 million US dollars through pre-financing rounds. These early investors include gumi Cryptos Capital, Hash Global, SevenX Ventures, Mask Network and other investment institutions and individual investors. Adot has posted a video of cooperation with Aptos on official social me...
Bridge, a global stablecoin payments network co-founded by former Square and Coinbase executives Zach Abrams and Sean Yu, announced a $58 million round of funding with participation from Sequoia, Ribbit and Index. The new round of funding, including $40 million led by Sequoia and Ribbit, will challenge traditional payment systems. Bridge will provide seamless fiat-to-stablecoin conversions, facilitating the transfer of different stablecoins between blockchains. Bridge has handled over $5 billion...
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