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

TechCrunch (TC) is a leading technology news and media site that covers the latest trends, startups, and innovations in the tech industry. With breaking news,  analysis, and expert commentary, TechCrunch provides  insights into the world of technology and entrepreneurship. Developers can learn about emerging technologies, funding opportunities, and market trends by following TechCrunch's coverage of the tech industry.

TechCrunch

Backpack, a crypto exchange and wallet, experienced significant growth despite the collapse of its major investor, FTX. It achieved a trading volume of $27.5 billion during its beta phase and added 252,000 KYC'd users. Backpack's design aims to address the issues exposed by FTX, ensuring no single point of failure and enabling the operations of the exchange to be distributed across multiple entities. The company is also expanding into the world of xNFTs and plans for global expansion.

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