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Backpack Exchange is a regulated platform that offers a comprehensive suite of trading features while serving as a gateway to the Web3 ecosystem. Backpack offers low fees and provides everything
The post Backpack Crypto Exchange Review: Is It Safe to Trade Cryptos in 2025? appeared first on CryptoNinjas.
Backpack Initiates Process for Former FTX EU Users to Reclaim Funds Backpack, a leading digital asset platform, has launched the claims process for previous users of FTX EU who were affected by the exchange’s closure. Users can now submit their claims to retrieve their funds through Backpack’s streamlined and efficient procedure. The process is designed [...]
The post Backpack Expands Claims Process for Former FTX EU Users appeared first on Crypto Breaking News.
Backpack also facilitates non-fungible tokens listing and sales, providing a user-friendly platform for users interested in NFTs.
Learn more about the activities to earn more points in the upcoming potential Backpack airdrop on Solana.
Here are some airdrops that require minimal cost to participate!
Crypto exchange FTX, led by Sam Bankman-Fried, has received a lot of press this year for acting as a lender “of last resort”, launching bids for distressed companies such as BlockFi, as the contagion crisis spread across the crypto markets.
Today, it was announced that the venture arm, FTX Ventures, is co-leading a $20 million strategic round into Coral, the makers of Anchor, the most popular Solana development framework.
The funds will be used to launch Coral’s first flagship product, named Backpack. The premise for Backpack is intriguing – an interactive wallet that delivers crypto-native experiences through executable NFTs (xNFTS). The idea is that users can access all of their assets and decentralised apps in one place.
It seems simple, but that’s kind of the point. I have written many a time about how one of crypto’s biggest problems remains how clunky the wallet experience can be. Additionally, jumping between browsers, tabs and wallets is a nuisance. Backpack, therefore, aims to help smooth out these issues.
Backpack is designed to be a flexible tunnel, allowing users to land at applications, games or assets across blockchains – again, something which crypto has not been very good at to date. This problem is possibly why FTX Ventures had their heads turned by this investment, alongside other participation from Jump Crypto (co-leaders as well), Milticoin Capital, Anagram and K5 Global.
This is potentially the ‘iPhone launch moment’ for Web 3 with xNFTs as apps, xNFT marketplace as the App Store, and CoralOS as the iOS. It is surprising that Backpack hasn’t been built in Web3 until now
Ramnik Arora, Head of Product at FTX
Of course, this is a crypto startup and, like any startup, poses a healthy degree of risk. Add into the mix the turbulent macro climate, where financial assets across the sphere are getting hammered, and it is definitely a nervous time to be a start-up.
Nonetheless, the raise is a powerful signal of intent and some welcome good news, something we are getting precious little of these days.
For FTX, they’ll be hoping that Coral’s Backpacker will deliver on its potential and provide returns that only crypto startups can. Backpack has been launched recently into Private Beta, and – purists will be delighted to know – the code is open-source.
I wrote recently about how well run FTX has been, alongside Binance, when compared to most exchanges. The company has been led prudently by Sam Bankman-Fried, and as the bear market has arrived, the gulf between FTX and Binance and some of the other more aggressive players in the space has become glaringl obvious.
As is the nature of the game, this is a longshot investment. But FTX continues to expand their portfolio and grow their influence on the cryptocurrency industry. It will be hoping that someday down the line, the money mentioned in this article is peanuts compared to what it is worth.
The post FTX continues to grow its empire, invests in Coral’s Backpack appeared first on Invezz.
Amid tightening global crypto regulations, Backpack, a crypto exchange founded by former FTX executives, has broadened its reach to 11 US states, including California, Colorado, Indiana, Missouri, Wyoming, and others. In a Feb. 21 announcement on the social media platform X (formerly Twitter), the company disclosed its availability to residents within the states above, with […]
The post Former FTX executives Backpack exchange expands to 11 US states appeared first on CryptoSlate.
Backpack, a leading exchange and wallet, integrates Sui's high-performance blockchain to enhance user experience, expanding opportunities for projects and users across multiple platforms. (Read More)
Blockaid scanned over 180 million transactions of Backpacks users between June and September, detecting more than 71,000 malicious activities on the Solana network.
The ownership of FTX EU has become a point of contention between Backpack Exchange and the FTX estate.
As part of the acquisition, Backpack EU will be responsible for distributing court-approved bankruptcy claims to FTX EU customers.
The digital asset industry is continuously evolving and we see new projects come up every day that promise to bring a change in the pre-existing narratives. The regularly used crypto wallets are being reimagined with the help of several platforms. One such unique protocol that is changing how the industry functions is Backpack, and their […]
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