Dubai

<p class="is-style-lead">Crypto exchange Backpack established by ex-FTX, Alameda Research executives is now offering services to customers in several U.S. states.</p> 
<p>In <a href="https://x.com/Backpack/status/1760145691551412412?s=20" target="_blank" rel="noreferrer noopener">an X thread</a> on Feb. 21, crypto exchange Backpack announced it has started offering services to users from 11 U.S. states as the exchange deepens its presence on the American market. According to the exchange’s <a href="https://support.backpack.exchange/en/articles/1088833" target="_blank" rel="noreferrer noopener">help center</a>, Backpack is now offering services in California, Colorado, Wisconsin, Wyoming and seven other US states. </p> 
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   <p lang="en" dir="ltr">USA<br><br>Welcome to Backpack Exchange. <br><br>We're going live in 11 states. <a href="https://t.co/k1a0SR0yQG" target="_blank">pic.twitter.com/k1a0SR0yQG</a></p>— Backpack 🎒 (@Backpack) <a href="https://twitter.com/Backpack/status/1760145691551412412?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 21, 2024</a>
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<p> You might also like: <a href="https://crypto.news/ex-ftx-foundation-employee-pursues-unpaid-275k-bonus/"> Ex-FTX Foundation employee pursues unpaid $275k bonus </a> </p> 
<p>Founded by <a href="https://crypto.news/tag/ftx/" target="_blank" rel="noreferrer noopener">FTX</a>‘s former general counsel, Can Sun, and ex-Alameda Research software developer Armani Ferrante, Backpack, which is currently in beta, <a href="https://crypto.news/backpack-launches-crypto-exchange-in-dubai/" target="_blank" rel="noreferrer noopener">has already secured</a> the Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA).</p> 
<p>Ferrante, who now serves as the CEO of Backpack, expressed intentions to further solidify the exchange’s presence in the U.S., although specific timelines were not disclosed.</p> 
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   <p lang="en" dir="ltr">If we don't support your state yet, hold on. We'll get there. This is something that will take years to complete. But we're committed to doing it right.<br><br>Brick by brick. 🧱</p>— Armani Ferrante (@armaniferrante) <a href="https://twitter.com/armaniferrante/status/1760148194452033921?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 21, 2024</a>
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<p>In September 2022, Backpack <a href="https://www.prnewswire.com/news-releases/coral-closes-20m-strategic-round-from-ftx-ventures-and-jump-crypto-to-build-backpack-an-application-first-portal-to-crypto-301635394.html" target="_blank" rel="noreferrer noopener">raised $20 million</a> via blockchain firm Coral to evolve as a digital wallet for executable non-fungible tokens (xNFTs), which the firm described as “analogous to WeChat mini-programs.” The funding was co-led by FTX Ventures and Jump Crypto with participation from Multicoin Capital, Anagram, K5 Global, Frictionless, and other strategic investors. In November 2023, the Wall Street Journal <a href="https://www.wsj.com/finance/currencies/key-witness-at-sam-bankman-fried-trial-to-launch-new-crypto-exchange-80d1edce" target="_blank" rel="noreferrer noopener">learned</a> that Backpack was looking to sell a 10% stake that would value it at over $100 million.</p> 
<p> Read more: <a href="https://crypto.news/pyth-down-12-days-after-backpack-airdrop-coingecko/"> PYTH down 12% days after Backpack airdrop </a> </p>

New crypto exchange Backpack started by former FTX and Alameda execs

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