⚡ FTX and Alameda Veterans Unveil a New Crypto Exchange
posted 21 Feb 2024
Backpack, a new cryptocurrency exchange, has officially launched operations in 11 U.S. states, including California, Colorado, and Indiana.
The brains behind this new venture are Can Sun, ex-general counsel of FTX, and Armani Ferrante, previously with Alameda Research, who steps in as the CEO of Backpack. Ferrante's vision is to make a significant impact on the U.S. crypto market.
Backpack received a $20 million boost in the autumn of 2022, facilitated by Coral. This investment fueled the development of a unique digital wallet for xNFTs (executable NFTs) — tokens akin to mini-apps in WeChat. Among the investors were FTX Ventures, Jump Crypto, and other major players like Multicoin Capital and K5 Global.
The exchange operates under a VASP license granted by Dubai's VARA and is presently in its beta phase.
The founders' deep roots in FTX and Alameda Research, despite the company's mixed reputations, lend significant industry experience to Backpack.The crypto community is now buzzing with anticipation: Will these former FTX partners outshine the infamous Sam Bankman-Fried in the exchange business?
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