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Backpack's Early Success Signals a Maturing Crypto Industry
Backpack’s rapid ascent is more than just a success story for one exchange — it reflects a broader shift in the crypto industry toward transparency, compliance, and trust. Following the collapse of FTX, co-founder Armani Ferrante sees this moment as a key evolution in the space.
“We’re at this inflection point in the industry where we’re rising out of the ashes of FTX,” Ferrante said, “but also bringing the industry into a more mature state. This includes everything from security to compliance and building deserved trust with the world.”
With smart contract-based custody, a regulatory-first approach, and licenses like the one granted in Dubai, Backpack is building infrastructure designed to endure.
As Ferrante adds, “We’re excited to bring to the world a lot of the real tangible benefits of blockchain technology to build next-generation financial infrastructure. We have a big opportunity, and I think a lot of it has already been validated.”