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In a comprehensive discussion on X, Backpack, a new player in the cryptocurrency exchange arena, has officially launched its crypto trading services. Founded by Can Sun, former general counsel of FTX, and Armani Ferrante, former software developer at Alameda Research, Backpack is making its mark in the industry.




The exchange has chosen to initiate its services in 11 US states, as revealed in a detailed thread on X. Backpack’s official help desk has confirmed that it is now facilitating crypto exchange in prominent states such as California, Wisconsin, Wyoming, and seven others, having obtained the necessary licenses to operate as a legitimate crypto exchange.




According to the latest tweet from Backpack, the exchange has secured its VASP License from the Dubai Virtual Assets Regulatory Authority (VARA), solidifying its position as a legitimate player in the crypto market. Armani Ferrante, the CEO of Backpack, emphasized that the product launch will unfold gradually, with plans to expand into additional US states in due course.


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