Backpack launches FTX debt marketplace for claim holders

Backpack, the crypto exchange founded by former FTX insiders, has launched a new portal to help FTX creditors sell their debt claims directly to interested third-party buyers. 

The announcement was made on July 18 via a post on Backpack’s Chinese X account, where the company described the initiative as a “non-profit, neutral” service aimed at supporting the wider crypto community impacted by the 2022 FTX collapse.

The new platform offers a one-stop process for claim holders, including identity verification, claim validation, offer confirmation, and final settlement, all completed within the Backpack interface. Backpack stated that it will not charge any fees and will not profit from the service.

The goal is to offer a smoother path to liquidity for FTX users who are still waiting for compensation nearly three years after the exchange’s bankruptcy filing.