{"id":56156,"date":"2025-07-18T09:12:43","date_gmt":"2025-07-18T09:12:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ftt-jumps-7-as-backpack-launches-platform-to-help-ftx-victims-liquidate-claims\/"},"modified":"2025-07-18T09:12:43","modified_gmt":"2025-07-18T09:12:43","slug":"ftt-jumps-7-as-backpack-launches-platform-to-help-ftx-victims-liquidate-claims","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ftt-jumps-7-as-backpack-launches-platform-to-help-ftx-victims-liquidate-claims\/","title":{"rendered":"FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/FTTT-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/FTTT-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/FTTT-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/FTTT-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Backpack has unveiled a fee-free platform for FTX victims to sell their claims.<\/li>\n<li>The platform generated excitement as it pledged zero profits from the process.<\/li>\n<li>FTT coin gained more than 7% amid the developments.<\/li>\n<\/ul>\n<p>FTT joined today\u2019s broad-based altcoin rallies with a significant surge.<\/p>\n<p>While the altcoin narrative boosted the alt\u2019s sentiments, the latest announcement from Backpack exchange added to the bullish momentum.<\/p>\n<p>Backpack has launched a non-profit platform to help victims of the collapsed FTX exchange liquidate their bankruptcy claims.<\/p>\n<p>The announcement triggered excitement, especially for creditors who have been in limbo for over two years, wondering whether they would ever recover their lost funds.<\/p>\n<p>The Backpack team <a href=\"https:\/\/x.com\/Backpack_CN\/status\/1946043949371756922\">said<\/a>:<\/p>\n<blockquote>\n<p>We deeply understand the pain of being former FTX users. To assist other users who still hold FTX claims, we are launching a non-profit, completely neutral claims sale channel starting today, helping FTX global claim holders connect with third-party buyers willing to purchase FTX claims.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udce2 Update: Backpack has launched its official <a href=\"https:\/\/twitter.com\/hashtag\/FTX?src=hash&amp;ref_src=twsrc%5Etfw\">#FTX<\/a> claims sale channel<\/p>\n<p>It\u2019s a one-stop flow \u2014 all inside the app:<\/p>\n<p>\ud83e\udeaa Identity verification<br \/>\ud83d\udcc4 Claims validation<br \/>\ud83d\udcb0 Offer &amp; settlement<\/p>\n<p>\ud83d\udccc <a href=\"https:\/\/twitter.com\/hashtag\/Backpack?src=hash&amp;ref_src=twsrc%5Etfw\">#Backpack<\/a> will not charge any fees or earn profit from this service<\/p>\n<p>\u2014 TheNewsCrypto (@The_NewsCrypto) <a href=\"https:\/\/twitter.com\/The_NewsCrypto\/status\/1946106586029842785?ref_src=twsrc%5Etfw\">July 18, 2025<\/a><\/p>\n<\/blockquote>\n<p>Notably, Backpack was among the platforms that suffered massive financial losses following FTX\u2019s late 2022 debacle.<\/p>\n<p>It lost assets worth approximately $14.5 million as Sam Bankman-Fried\u2019s empire crumbled.<\/p>\n<p>Most importantly, Backpack is not after recognition or financial gains.<\/p>\n<p>It has emphasized that this is a community-centric, zero-profit program introduced to link claimants with legitimate buyers in a secure environment.<\/p>\n<p>The initiative enhanced sentiments among FTT holders, reflected by the surged prices.<\/p>\n<h2>A transparent and straightforward process<\/h2>\n<p>Backpack\u2019s new offering adopts user-friendliness.<\/p>\n<p>Individuals only need to visit the exchange\u2019s platform and complete basic ID checks.<\/p>\n<p>This is to adhere to regulatory policies.<\/p>\n<p>After eligibility verification, qualified users will receive offers from legitimate buyers and enjoy a secure and frictionless process to liquidate their assets.<\/p>\n<p>Remember, Backpack will not take commissions or charge fees throughout this process.<\/p>\n<h2>FTT rallies in response<\/h2>\n<p>While it remains a controversial token, as it lacked utility following FTX\u2019s debacle, FTT remains a proxy for sentiments around the exchange\u2019s bankruptcy efforts.<\/p>\n<p>It has always reacted to developments associated with the creditor reimbursement process.<\/p>\n<p>The digital coin gained from a daily low of $0.8779 to $0.9408 intraday peak.<\/p>\n<p>That\u2019s a 7% increase, and the recovering 24-hour trading volumes signal a potential trend shift to the buyer side.<\/p>\n<p><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"alignnone size-full wp-image-322799\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/07\/FTT-price-on-Coinmarketcap.jpg\" alt=\"\" width=\"568\" height=\"247\"\/><\/p>\n<p>Technical indicators on the daily timeframe support the upside trajectory.<\/p>\n<p>The Moving Average Convergence Divergence displays bullish momentum with green histograms while above the signal line.<\/p>\n<p>The Relative Strength Index at 63 signals more room for upswings before FTT reaches the overbought area.<\/p>\n<p>Meanwhile, FTT\u2019s future depends on the claimants\u2019 decision. Relentless dumps would mean massive selling pressure for the native token.<\/p>\n<p>Backpack has urged users to avoid selling with a disclaimer:<\/p>\n<blockquote>\n<p>Selling claims is a voluntary action and involves opportunity costs. If you choose to continue holding your claims, you may receive higher compensation in the future. Please make a careful decision based on your own judgment.<\/p>\n<\/blockquote>\n<p>On the other hand, bulls dominate the cryptocurrency sector as bullish sentiments prevail. Bitcoin hovers at $120,140.<\/p>\n<p>A daily candlestick closing above $121,000 could trigger continued gains to free all-time highs at $132,000.<\/p>\n<div class=\"ad-banner  container  pt-1\" data-partner=\"bitcoinpepe\">\n        <a href=\"https:\/\/bitcoinpepe.co\/en?utm_source=coinjournal&amp;utm_medium=banner&amp;utm_campaign=header\" target=\"_blank\" rel=\"nofollow sponsored noopener\"><br \/>\n            <img src=\"https:\/\/coinjournal.net\/wp-content\/themes\/c1-base\/dist\/img\/ad\/blockovate\/en-4.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/ftt-jumps-7-as-backpack-launches-platform-to-help-ftx-victims-liquidate-claims\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Backpack has unveiled a fee-free platform for FTX victims to sell their claims. The platform generated excitement as it pledged zero profits from the process. FTT coin gained more than 7% amid the developments. FTT joined today\u2019s broad-based altcoin rallies with [&hellip;]<\/p>\n","protected":false},"author":3947362363,"featured_media":56157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/56156"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362363"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=56156"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/56156\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/56157"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=56156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=56156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=56156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}