FTX News: Backpack Exchange Launches Asset Recovery for Former FTX EU Clients

In a move to help those affected by the collapse of FTX, Backpack Exchange has initiated a process to recover assets for former FTX EU customers.

Backpack Exchange Initiates Asset Recovery for Former FTX EU Customers

Backpack Exchange has begun a formal procedure to assist former FTX EU clients in recovering their funds. The company launched a claims process on April 1, 2025, and posted a LINK where affected users can identify themselves and complete a KYC process to initiate fund recovery. FTX, once one of the world’s largest cryptocurrency exchanges, collapsed in November 2022 amid a liquidity crisis and fraud allegations, leaving millions of users unable to access their funds.

Solana Price Forecast for April 2025: SOL traders risk $120 reversal as FTX begins $800M repayments on May 30

Solana price remained below $130 on Tuesday despite broader market gains, including BTC, XRP, and ADA scoring over 3% in the last 24 hours. FTX estate is set to begin major repayments on May 30, with 61% of its $800 million on-chain holdings on Solana and 39% on Ethereum. Investors are wary of looming FTX sell-offs, causing SOL to face headwinds.