How crypto exchange Backpack climbed its way to success after its major investor FTX died


This post is by Jacquelyn Melinek from TechCrunch


Backpack’s founders, who are building a crypto exchange and wallet, have experienced strong growth since launching in 2022. But the road wasn’t easy. FTX co-led Backpack’s $20 million strategic investment round in September 2022. Less than two months later, in November, 2022, FTX collapsed. “We lost 80% of the operating capital on FTX. We spent […] © 2024 TechCrunch. All rights reserved. For personal use only.