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A group of former FTX and Alameda Research employees, led by Armani Ferrante and Tristan Yver, has successfully raised $17 million in a Series A funding round to launch a new cryptocurrency exchange and wallet service named Backpack. The funding round, backed by investors including Frictionless Capital and MadLads, has catapulted the company to a valuation of $120 million. The initiative has garnered support from a wide range of investors and industry insiders, highlighting the team's strong reputation within the Solana community and the project's potential to impact the crypto space positively. Backpack aims to redefine the exchange and wallet categories by creating a comprehensive crypto application targeted at mainstream audiences, emphasizing ease of use, security, and compliance.
Armani Ferrante and Tristan Yver have raised $17 million for crypto wallet and exchange company, Backpack, at a valuation of $120 million. https://t.co/djnsn50uMc
I don’t think I’ve ever seen a web3 company innovate as much as @Mintify has over the past few months.. It’s like 1-3 substantial updates per week.. Glad to hold a few keys and avatars to farm $ME.. looking forward to the continuous development 🫡 https://t.co/lMa2NtGfqV
absolutely stoked to back this team and work with them closely everyday working on arguably the most important mission in crypto right now — could not be more proud everyone already knows @armaniferrante and @yver__ (fun fact: armani was the first person from solana that… https://t.co/m47GAc35lN
