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<p>The post <a href="https://coinpedia.org/news/the-rise-of-backpack-how-former-ftx-execs-are-redefining-crypto-in-the-uk/">Former FTX Execs’ Backpack Straps on for UK Expansion After $17M Funding</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Here’s something you don’t see every day!</p> 
<p>Backpack, led by former <a href="https://coinpedia.org/news/pantera-capitals-plan-to-get-discounted-sol-tokens-from-ftx-estate/">FTX</a> and Alameda Research experts, has made a significant move into the UK, marking a key milestone in the crypto space. With a substantial $17 million in funding and a notable $120 million valuation, Backpack is geared up to revolutionize the crypto scene.</p> 
<h2 class="wp-block-heading" id="h-winning-with-funding">Winning with Funding!</h2> 
<p>Backpack’s strategic entry into the UK follows a successful $17 million funding round, solidifying its position in the crypto exchange arena. Led by CEO Armani Ferrante and co-founder Can Sun, seasoned professionals from Alameda Research and FTX, Backpack is making waves with a robust $120 million valuation.</p> 
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   <p lang="en" dir="ltr">Backpack Exchange is now available to residents of the United Kingdom. <a href="https://t.co/vNa0KSzpq7">pic.twitter.com/vNa0KSzpq7</a></p>— Backpack 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f392.png" alt="🎒" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Backpack) <a href="https://twitter.com/Backpack/status/1767462658847224059?ref_src=twsrc%5Etfw">March 12, 2024</a>
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<p>Beyond a typical crypto platform, Backpack is an all-encompassing ecosystem catering to various user needs. From crypto trading to wallet services and an exclusive NFT collection named “Mad Lads,” Backpack’s success in Dubai, coupled with the acquisition of a VASP license, underscores its commitment to global growth and accessibility, with the UK as its latest strategic move.</p> 
<h2 class="wp-block-heading" id="h-bouncing-back-strong">Bouncing Back Strong</h2> 
<p>In the face of FTX’s challenges, Backpack has demonstrated resilience, accumulating over 420,000 confirmed users worldwide. The UK expansion signifies a strategic shift for former FTX executives, seizing new opportunities since FTX went out of business.</p> 
<p>With new standards, Backpack’s growth aligns with a broader trend of innovative exchanges reshaping digital asset trading. As part of this new wave, Backpack prioritizes user-centered solutions and cutting-edge offers, elevating industry standards.</p> 
<h2 class="wp-block-heading" id="h-getting-the-timing-just-right"><strong>Getting the Timing Just Right</strong></h2> 
<p>The UK’s growing interest in digital assets, exemplified by the London Stock Exchange’s acceptance of <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> and <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/">Ethereum</a> ETNs, sets the stage perfectly for Backpack’s expansion. With institutional interest in cryptocurrencies on the rise, Backpack is strategically positioned to leverage this momentum and play a significant role in shaping the markets.</p> 
<p>Did You Know? <a href="https://coinpedia.org/news/blockfi-nears-full-customer-repayment-with-874-5-million-ftx-and-alameda-claim-agreement/">BlockFi Secures $1 Billion Deal with Bankrupt FTX, Customers Eye Full Repayment</a></p> 
<p><strong>With new players like Backpack, is the future of crypto trading brighter than ever?</strong></p>

Former FTX Execs’ Backpack Straps on for UK Expansion After $17M Funding

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