Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

2025-05-19

Crypto companies to report every transaction under new British laws

2025-05-19

Stellar [XLM] Price forecast – Research why $ 0.27 is an important level for Altcoin

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    2025-05-19

    Cdari works together with Laika Ai to strengthen blockchain -intelligence about chains

    2025-05-19

    Vitaminai and Blocx partner to stimulate security and productivity by bridging Web2 and Web3

    2025-05-19

    Sentismai integrates Kyberswap for seamless EVM -Kettingwaps

    2025-05-19

    Alchemie acquires Solana developer Dexterlab for unknown sum

    2025-05-19
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Crypto companies to report every transaction under new British laws

    2025-05-19

    Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

    2025-05-19

    Authorities claim that scammers have stolen $ 265,000,000 in crypto to buy exotic cars, private security and other luxury

    2025-05-19

    SEC chairman Atkins confirms the end of hard crypto enforcement, proposes a uniform framework

    2025-05-19

    Trump administration to beat bank rules designed to prevent collapse in 2008 style: report

    2025-05-19
  • Analysis

    BlackRock’s Buidl to Power Bouncebit’s new RWA Yield Strategy Platform

    2025-05-19

    XRP -Price confirms Bullish reversing settings with this demand zone

    2025-05-19

    Finish Bitcoin price inches in the direction of all time-can Momentum?

    2025-05-19

    Ethereum – price cannot break through – what does it stop?

    2025-05-19

    Dogecoin (Doge) is struggling to support profit while Meme Coin cools Mania

    2025-05-19
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»Former FTX executives Backpack Exchange expands to 11 US states
Former FTX executives Backpack exchange expands to 11 US states
Regulation

Former FTX executives Backpack Exchange expands to 11 US states

2024-02-22No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Amid the tightening of global crypto regulations, Backpack, a crypto exchange founded by former FTX executives, has expanded its reach to 11 US states, including California, Colorado, Indiana, Missouri, Wyoming and others.

In an announcement on February 21 on the social media platform

“TToday we begin our journey to bring Backpack Exchange to the US. It will be slow. It will be stable. It will be difficult. But it will be worth it. If we don’t support your state yet, please wait. We’ll get there. This is something that will take years to complete. But we are determined to get it right.”

The exchange, which is currently in beta phase, facilitates spot trading activities and plans to diversify into derivatives, margin trading and more as it secures additional licenses globally. It reportedly aims to offer non-custodial trading to differentiate itself from traditional crypto exchanges. On February 18, the platform reported a daily trading volume of $1 billion.

Backpack was co-founded by Can Sun, former general counsel at FTX, and Ferrante, formerly a software developer at Alameda Research.

Sun played a crucial role as a witness in the trial of Sam Bankman-Fried, revealing he had no idea the former billionaire was misusing customers’ money. Coral, Ferrante’s crypto infrastructure company, suffered a $14.5 million loss following the abrupt collapse of FTX. FTX Venture reportedly led a $20 million funding round for Coral just weeks before the collapse.

Backpack license

The Backpack Exchange platform is multi-licensed in global jurisdictions including the United Arab Emirates (UAE), Lithuania, Australia and the United States.

See also  Crypto's Future Under Trump: Executives Urge a Shake-Up at the SEC

US Financial Crimes Enforcement Network records show it was initially registered as a Money Services Business (MSB) in numerous US states. Furthermore, it is duly registered with the Australian Transaction Reports and Analysis Center (AUSTRAC) as a Digital Currency Exchange (DCE) provider.

In the UAE, the company is accredited by the Dubai Virtual Assets Regulatory Authority (VARA) as a Virtual Asset Service Provider (VASP). Moreover, it is registered with the Lithuanian Financial Crime Investigation Service (FCIS) as a virtual currency exchange operator and a deposit monetary operator for virtual currencies.

Source link

Backpack Exchange Executives expands FTX States
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto companies to report every transaction under new British laws

2025-05-19

Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

2025-05-19

Authorities claim that scammers have stolen $ 265,000,000 in crypto to buy exotic cars, private security and other luxury

2025-05-19

SEC chairman Atkins confirms the end of hard crypto enforcement, proposes a uniform framework

2025-05-19
Add A Comment

Comments are closed.

Top Posts

Crypto Tsar David Sacks says he sold all Bitcoin, Ethereum and Solana prior to the inauguration of Trump

2025-03-05

‘3 in a Row’ for Bitcoin Costs, But What Will Determine BTC’s Short-Term Price Action?

2024-08-17

Bitcoin Dives Below the $60,000 and $56,000 Support Levels: Where Will BTC Fall?

2024-08-05
Editors Picks

Bitcoin – Research into the most important price levels to keep an eye on while the FOMC meeting is ahead

2025-01-25

US Doj dissolves crypto enforcement team in the midst of policy shift under Trump

2025-04-08

The Ukrainian ministry hopes that blockchain can dismantle corruption

2023-10-30

The government needs “additional instruments and resources” to tackle crypto, a Finance Ministry official says

2024-02-15

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Crypto companies to report every transaction under new British laws

Stellar [XLM] Price forecast – Research why $ 0.27 is an important level for Altcoin

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$105,614.051.67%
  • ethereumEthereum(ETH)$2,546.736.80%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.380.99%
  • binancecoinBNB(BNB)$650.111.75%
  • solanaSolana(SOL)$168.682.06%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2250622.42%
  • cardanoCardano(ADA)$0.741.74%
  • tronTRON(TRX)$0.2668531.54%
  • suiSui(SUI)$3.831.91%
  • chainlinkChainlink(LINK)$16.076.05%
  • avalanche-2Avalanche(AVAX)$22.351.90%
  • stellarStellar(XLM)$0.2866571.48%
  • hyperliquidHyperliquid(HYPE)$26.582.53%
  • shiba-inuShiba Inu(SHIB)$0.0000151.92%
  • hedera-hashgraphHedera(HBAR)$0.1952022.87%
  • unus-sed-leoUNUS SED LEO(LEO)$8.700.54%
  • bitcoin-cashBitcoin Cash(BCH)$394.800.46%
  • the-open-networkToncoin(TON)$3.03-0.38%
  • litecoinLitecoin(LTC)$98.361.04%
  • polkadotPolkadot(DOT)$4.641.91%
  • moneroMonero(XMR)$346.781.49%
  • bitget-tokenBitget Token(BGB)$5.170.39%
  • pepePepe(PEPE)$0.0000133.14%
  • daiDai(DAI)$1.000.01%
  • piPi(PI)$0.73-0.05%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • aaveAave(AAVE)$264.4921.58%
  • uniswapUniswap(UNI)$5.983.80%
  • bittensorBittensor(TAO)$412.171.08%
  • nearNEAR Protocol(NEAR)$2.814.18%
  • aptosAptos(APT)$5.245.75%
  • okbOKB(OKB)$52.420.40%
  • ondo-financeOndo(ONDO)$0.943.43%
  • kaspaKaspa(KAS)$0.1094120.87%
  • ethereum-classicEthereum Classic(ETC)$18.594.37%
  • internet-computerInternet Computer(ICP)$5.253.29%
  • gatechain-tokenGateToken(GT)$21.570.31%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.840.79%
  • crypto-com-chainCronos(CRO)$0.0964370.20%
  • mantleMantle(MNT)$0.730.12%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2339440.86%
  • vechainVeChain(VET)$0.0282812.23%
  • render-tokenRender(RENDER)$4.654.06%
  • ethenaEthena(ENA)$0.3810865.25%
  • usd1World Liberty Financial USD(USD1)$1.00-0.11%
  • algorandAlgorand(ALGO)$0.2235643.15%
  • arbitrumArbitrum(ARB)$0.3951425.57%
  • filecoinFilecoin(FIL)$2.873.43%
  • bitcoinBitcoin(BTC)$105,614.051.67%
  • ethereumEthereum(ETH)$2,546.736.80%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.380.99%
  • binancecoinBNB(BNB)$650.111.75%
  • solanaSolana(SOL)$168.682.06%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2250622.42%
  • cardanoCardano(ADA)$0.741.74%
  • tronTRON(TRX)$0.2668531.54%
  • suiSui(SUI)$3.831.91%
  • chainlinkChainlink(LINK)$16.076.05%
  • avalanche-2Avalanche(AVAX)$22.351.90%
  • stellarStellar(XLM)$0.2866571.48%
  • hyperliquidHyperliquid(HYPE)$26.582.53%
  • shiba-inuShiba Inu(SHIB)$0.0000151.92%
  • hedera-hashgraphHedera(HBAR)$0.1952022.87%
  • unus-sed-leoUNUS SED LEO(LEO)$8.700.54%
  • bitcoin-cashBitcoin Cash(BCH)$394.800.46%
  • the-open-networkToncoin(TON)$3.03-0.38%
  • litecoinLitecoin(LTC)$98.361.04%
  • polkadotPolkadot(DOT)$4.641.91%
  • moneroMonero(XMR)$346.781.49%
  • bitget-tokenBitget Token(BGB)$5.170.39%
  • pepePepe(PEPE)$0.0000133.14%
  • daiDai(DAI)$1.000.01%
  • piPi(PI)$0.73-0.05%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • aaveAave(AAVE)$264.4921.58%
  • uniswapUniswap(UNI)$5.983.80%
  • bittensorBittensor(TAO)$412.171.08%
  • nearNEAR Protocol(NEAR)$2.814.18%
  • aptosAptos(APT)$5.245.75%
  • okbOKB(OKB)$52.420.40%
  • ondo-financeOndo(ONDO)$0.943.43%
  • kaspaKaspa(KAS)$0.1094120.87%
  • ethereum-classicEthereum Classic(ETC)$18.594.37%
  • internet-computerInternet Computer(ICP)$5.253.29%
  • gatechain-tokenGateToken(GT)$21.570.31%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.840.79%
  • crypto-com-chainCronos(CRO)$0.0964370.20%
  • mantleMantle(MNT)$0.730.12%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2339440.86%
  • vechainVeChain(VET)$0.0282812.23%
  • render-tokenRender(RENDER)$4.654.06%
  • ethenaEthena(ENA)$0.3810865.25%
  • usd1World Liberty Financial USD(USD1)$1.00-0.11%
  • algorandAlgorand(ALGO)$0.2235643.15%
  • arbitrumArbitrum(ARB)$0.3951425.57%
  • filecoinFilecoin(FIL)$2.873.43%