FTX EU Customers Can Now Withdraw Frozen Funds via Backpack

European customers of the defunct FTX EU platform have been granted access to their frozen fiat balances through Backpack, the crypto startup that acquired FTX EU. A dedicated claims portal was launched on May 12, 2025, allowing users to initiate withdrawal requests. The process is currently limited to euro payouts and requires identity verification, a recent bank statement, and exact personal detail matching. Withdrawal fees are determined by Backpack’s banking partners.

FTX EU Customers Gain Access to Frozen Funds Through Backpack

European customers of the collapsed FTX EU platform can now initiate withdrawal requests for their frozen fiat balances. Backpack, the crypto startup that acquired FTX EU, has launched a dedicated claims portal effective May 12. The process is limited to euro payouts and requires identity verification, a recent bank statement, and exact personal detail matching.

Withdrawal fees are structured by Backpack’s banking partners: €8 for claims under €2,000, with slightly higher flat or percentage-based charges for larger amounts. The maximum fee is capped at €353. Notably, crypto withdrawals remain unavailable at this stage.

The move marks a significant step in restoring funds to affected users, though no hard deadline has been set for claims. Meanwhile, speculation continues around meme coins like dogwifhat (WIF), which recently surged past the $1 mark.

New York’s BitLicense Remains Global Benchmark Amid Federal Regulatory Void

New York’s cryptocurrency regulatory framework continues to set the international standard in the absence of comprehensive U.S. federal oversight. Adrienne Harris, Superintendent of the New York State Department of Financial Services, defended the state’s rigorous BitLicense regime during her Consensus 2025 keynote in Toronto.

"Our high barriers to entry proved prescient," Harris asserted, citing the exclusion of collapsed firms like FTX, Voyager, and Celsius from New York markets. The DFS maintains a dedicated 60-person team overseeing crypto compliance—a staffing commitment unmatched by other states.