# Backpack

> Backpack runs a crypto exchange, a self-custodial multi-chain wallet and the Mad Lads NFT community, and has expanded into brokerage and tokenized securities. Founded by Armani Ferrante in 2022, it survived a $14.5 million operating-fund loss during FTX’s collapse and later acquired FTX Europe.

- **Founded:** 2022
- **Headquarters:** San Francisco, United States
- **Founders:** Armani Ferrante (Founder and CEO), Can Sun (Co-founder)
- **Products:** Backpack Wallet, Mad Lads, Backpack Exchange, Backpack EU, Backpack Securities
- **Notable:** Lost $14.5 million, 88% of operating funds, in the 2022 FTX collapse and continued operating., Secured Dubai VARA exchange license in October 2023., Raised a $17 million Series A at a reported $120 million valuation in February 2024.

## Products & services

- **Backpack Wallet** — Self-custodial multi-chain wallet for assets, dApps, NFTs, swaps and bridges.
- **Mad Lads** — Solana NFT collection and community.
- **Backpack Exchange** — Spot, margin and perpetual-futures trading, lending and unified collateral, subject to region.
- **Backpack EU** — CySEC-regulated European platform for crypto perpetual futures.
- **Backpack Securities** — Brokerage access to US stocks and ETFs, with a path to tokenized securities on Solana for eligible users.
- **BP token** — Solana-based platform token launched for trading in March 2026, with stated fee, reward and possible equity access utility subject to terms.

## Achievements

- Lost $14.5 million, 88% of operating funds, in the 2022 FTX collapse and continued operating.
- Secured Dubai VARA exchange license in October 2023.
- Raised a $17 million Series A at a reported $120 million valuation in February 2024.
- Acquired FTX Europe for a reported $32.7 million in January 2025.
- Launched Backpack EU perpetual futures in September 2025 after handling former customer claims.
- Introduced Backpack Securities in June 2026.

## Latest updates

- **2026-09** — Listed new equity perpetual futures markets, including NVDA-PERP and AAPL-PERP, with availability varying by region.
- **2026-06** — Introduced Backpack Securities and tokenized securities linked to traditional brokerage entitlements.
- **2026-03** — Launched BP token trading and described utility including fee discounts and rewards.
- **2026-03** — Backpack Wallet announced zero platform fees on swaps and bridges across supported networks.
- **2026-02** — Published tokenomics for a planned Backpack token distribution.

## Links

- Website: https://backpack.exchange
- LinkedIn: https://www.linkedin.com/company/backpackexchange/
- Twitter/X: https://x.com/Backpack
- GitHub: https://github.com/backpack-exchange
- YouTube: https://www.youtube.com/@Backpack_Official

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Profile page: https://yespress.io/backpack
Published by YesPress — https://yespress.io
Last updated: 2026-09-29