Backpack Exchange, founded by former FTX and Alameda Research employees, has acquired FTX EU, the European arm of the crypto exchange that collapsed in late 2022. U.S. spot Bitcoin and Ethereum ETFs saw over $1.1 billion in net inflows, briefly pushing Bitcoin above $100,000 before a correction. CFTC Chair Rostin Behnam will step down on January 20, with his last day on February 7. Czech National Bank Governor Aleš Michl is considering Bitcoin for reserve diversification but has no current plans to acquire it. Former BitMEX CEO Arthur Hayes predicts the crypto bull market will peak in March 2025, driven by potential liquidity injections from U.S. Federal Reserve and Treasury initiatives.

Happy Tuesday! In today's Daily, Backpack acquires FTX EU, U.S. spot Bitcoin and Ethereum ETFs register over $1 billion in daily inflows, CFTC Chair Rostin Behnam plans to step down and more.Let's get started.Backpack Exchange, founded by former FTX and Alameda Research employees, has acquired FTX EU — the European arm of the crypto exchange that infamously collapsed in late 2022.U.S. spot Bitcoin and Ethereum ETFs attracted more than $1.1 billion in combined net inflows on Monday, helping bitcoin to briefly reclaim the $100,000 level before Tuesday's correction.CFTC Chair Rostin Behnam is stepping down from the role on Jan. 20, with his final day at the agency set for Feb. 7.Czech National Bank Governor Aleš Michl is considering bitcoin as a potential reserve diversification option but confirmed there are no current plans to acquire it in an interview with CNN Prima News.Former BitMEX CEO Arthur Hayes now predicts the crypto bull market will extend into a March 2025 peak, driven by over $600 billion in potential liquidity injections via U.S. Federal Reserve and Treasury initiatives.Never miss a beat withThe Block's daily digestof the most influential events happening across the digital asset ecosystem.

Backpack acquires FTX EU, BTC and ETH ETF inflows exceed 1 billion USD.