Former FTX and Alameda Employees Revive Failed European Firm Amid Industry Turmoil

In a surprising turn of events, former employees of the beleaguered cryptocurrency exchanges FTX and Alameda Research have teamed up with a venture called Backpack to make a significant acquisition. This move is aimed at reviving the European entity of a failed firm that once held a prominent position in the crypto landscape. The acquisition highlights the resilience and determination of those in the crypto sector to rebound from setbacks even as the industry continues to navigate through turbulent waters.

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Sam Trabucco, Former Alameda CEO, Surrenders Luxurious Assets to FTX Creditors

In a significant development following the collapse of FTX, Sam Trabucco, the former CEO of Alameda Research, has relinquished high-value assets including a luxury yacht and several premium apartments as part of the ongoing efforts to recover funds for FTX creditors. This forfeiture highlights the far-reaching implications of the crypto exchange's downfall and the accountability officials are now facing.

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