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Backpack: The Post-FTX Exchange Built for Trust and Transparency
Founded by former Alameda Research engineer Armani Ferrante, Backpack is one of several crypto exchanges launched in the wake of FTX’s collapse. The platform is designed to address the failures of its predecessors by prioritizing transparency and user control. It integrates an exchange and a non-custodial wallet, so users retain access to their funds through smart contracts—even if the platform fails.
The WIRED article highlights how Backpack, along with other emerging exchanges, reflects a broader shift toward safety, regulation, and accountability in crypto. Rather than relying on centralized custody, Backpack’s architecture allows users to verify ownership and maintain control at all times.