Backpack EU, the proprietor of FTX EU — the previous European arm of the defunct change FTX — is launching operations after settling with the Cyprus Securities and Trade Fee (CySEC).
Backpack EU, registered with the CySEC as Trek Labs Europe, introduced on Monday the launch of its perpetual futures platform in Europe, the corporate instructed Cointelegraph.
“After fulfilling our promise to refund former FTX EU clients, we start our journey to supply one of many first absolutely regulated crypto derivatives platforms in Europe, beginning with perpetual futures,” Backpack CEO Armani Ferrante mentioned.
The announcement follows Backpack’s acquisition of FTX EU in early 2025 and Backpack endeavor accountability for distributing FTX EU buyer claims since Might 2025.
Working underneath a MiFID II license
Backpack EU’s launch of perpetual futures builds on the corporate’s authorization underneath the Markets in Monetary Devices Directive (MiFID II) granted by the CySEC.
The CySEC reissued the MiFID II license to Trek Labs Europe in June 2025 after the corporate settled with the regulator, paying a complete of 200,000 euros ($235,000) for “attainable violations” of laws linked to FTX.
The Cypriot regulator suspended FTX EU’s Cyprus funding agency (CIF) license in November 2022 after the collapse of its global-operating mother or father, FTX.
This can be a creating story, and additional info might be added because it turns into accessible.
Journal: ‘Unintentional jailbreaks’ and ChatGPT’s hyperlinks to homicide, suicide: AI Eye