Backpack’s compensation strategy includes full subsidies for accounts with less than 5x leverage trading, partial subsidies for higher leverage, and refunds of liquidation fees. CEO Armani Ferrante assured that all users will avoid socialized losses.
Following the crash, Bitcoin (BTC) is valued at 110,883.54 USD, with a market cap of 2.21 trillion USD. The stable operations of Backpack during this volatility could positively influence industry standards and regulatory approaches.
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