Backpack EU, the owner of FTX EU – The old European branch of the deceased Exchange FTX – launches operations after having settled with the Cyprus Securities and Exchange Commission (CYSEC).
Backpack EU, recorded with CYSEC as Trek Labs Europe, announced on Monday the launch of its perpetual term platform in Europe, the company told Cointelegraph.
“After keeping our promise to reimburse the former FTX UE customers, we start our trip to provide one of the first platforms of cryptographic derivatives entirely regulated in Europe, starting with perpetual future,” said Backpack CEO, ferrant Armani.
The announcement follows the acquisition by FTX EU backpack at the beginning of 2025 and the responsibility of the backpack for the distribution of complaints from FTX EU FTX customers since May 2025.
Operating under a Mifid II license
The launch by Backpack EU of perpetual term contracts is based on the authorization of the Company under the Markets Directive in the financial instruments (MIFID II) granted by the CYSEC.
The CYSEC re -asserted the MIFID II license to Trek Labs Europe in June 2025 after the company was installed with the regulator, paying a total of 200,000 euros ($ 235,000) for “possible violations” of the regulations related to the FTX.
The Cypriot regulator suspended the license of the Cypriot Investment Company of FTX EU (CIF) in November 2022 after the collapse of its world parent, FTX.
This is a history in development, and additional information will be added as it will be available.
Review: The ties of “accidental jailbreaks” and chatgpt with murder, suicide: Ai Eye