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
It is mindblowing how fast @cryptomaze and partner projects are revolutionising web3 🤯 I saw the team building concentrated and smart for 2 years now. Always razor blade sharp focus for this kind of visions. In recent days all this effort is getting visible! What a blast 💥 https://t.co/rQnwhbmftY
Excited to be an early investor and backer of @Backpack since the beginning via @_Frictionless_ @armaniferrante, @GoLadsCS, and @yver__ are on the path to redefine the exchange & wallet categories with a crypto everything app for mainstream audiences. It is rare to find a team… https://t.co/CWl8MEk71r
With @MadLads on top, Solana exchange @Backpack has raised $17 million to fuel its expansion. We spoke with co-founder @armaniferrante about their plans—click to read: https://t.co/eNhl5ToBB2
Congrats to @armaniferrante and the @Backpack team on this raise. It’s magical to see the @solana community continuing to rise. Hope to see more like it in 2024. https://t.co/Pc33QMNzg9
Stoked to be backing @yver__ @armaniferrante and the team at 🎒. Undoubtedly one of the hardest working and mission driven teams I've ever worked with and destined to take our industry to new frontiers. WAO https://t.co/fObH55DLW7
Armani was one of the first solana devs I met in discord when I first started digging into the ecosystem, had a real impact on my choice to build in crypto and start dialect Congrats to the @Backpack team. Can’t wait to see what’s next https://t.co/EJygOPp7WP
Backpack is one of the best teams in the space. Humbled to be a tiny part of this and extremely excited to keep building together! https://t.co/DtgVSVjUGv https://t.co/nPMLS1QxDX
Always exciting to see stellar teams build new and better products to onboard the next 1bn people to web3. Even more exciting when you get to back them. Congrats @yver__, @armaniferrant, and the Backpack team for your Series A. Really pumped to be along for the ride. WAO. https://t.co/Zoz0X8P0su
Exchanges are integral to crypto’s growth because they are the first point of contact for new entrants. Delivering a stress-free, secure & exciting experience is @Backpack's unique value prop. Backpack not only delivers in core functionality (execution, compliance, audibility)… https://t.co/vjDSWBGt9D
It’s really coming full circle. From being forced to bootstrap after losing $15M on FTX, to now having a $17M series A with top-tier partners. Big congrats to @armaniferrante @yver__ and team. @Backpack and @MadLads on top! This is only the beginning. WAO https://t.co/7hYAJJo3kz https://t.co/5ybzuO61ov
Lads on top 🫡 So proud to be backing one of the best teams and founders @armaniferrante @yver__ in all of crypto! https://t.co/NwRsSxo5sJ
Congrats to the Backpack Team! Frictionless Capital has been a proud and early investor in the team since the beginning Onward and upward 🚀 https://t.co/zcTm7ih8SM
Armani Ferrante and Tristan Yver have raised $17 million for crypto wallet and exchange company, Backpack, at a valuation of $120 million. By @realDannyNelson. https://t.co/hNgWgL5Jz2
A group of former FTX and Alameda Research employees has raised $17 million to build out a crypto exchange called Backpack https://t.co/1Pl4B9jLid