Backpack Crypto Exchange intends to debut in various U.S. States this year, focusing on spot trading. The startup, founded by former FTX staff, is awaiting money-transmitter licenses necessary for operations in the U.S.
CEO Armani Ferrante emphasizes the importance of transparency through daily proof-of-reserves, aiming to gain competitive advantage. Despite regulatory challenges, Backpack expects swift growth in the U.S. Market, supported by a trading volume of 170 billion USD since 2024.
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