Former FTX Execs Launch New Crypto Exchange Trek Labs in Dubai
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Two former FTX executives, Can Sun and Armani Ferrante, are starting a new crypto exchange called Trek Labs.
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Trek Labs is based in Dubai and has obtained a license to operate.
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Ferrante is CEO and his company Backpack, a digital wallet firm, will power the exchange.
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The exchange will allow users to self-custody their crypto funds.
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The exchange plans to launch in beta later this month and is seeking a 10% stake valued at over $100 million.