Former FTX Executives Secure $17M New Crypto Exchange Funding

Former FTX and Alameda Research employees have secured $17 million in funding to establish Backpack, a crypto exchange, stepping in to address the gap left by their former employer Sam Bankman-Frieds crypto empire. Backpacks Genesis: $17 Million Seed Funding Headquartered in Dubai, Backpack functions as a crypto exchange and offers a wallet and an NFT collection known as Mad Lads. With a valuation of $120 million following this Series A round, the companys CEO and co-founder, Armani Ferrante, previously worked at Alameda Research. In contrast, another co-founder, Can Sun, served as FTXs...


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