Backpack Exchange Thrives After Cutting Ties with FTX

FTX was a major early investor in crypto exchange Backpack, but its collapse left Backpack without 80% of its operating capital
Backpack survived thanks to community support and has seen tremendous growth, trading over $27.5 billion in its beta phase
Backpack aims to solve problems exposed by FTX like central points of failure through its decentralized exchange design
The company is building products beyond an exchange like a crypto wallet and xNFT platform
Backpack raised $17 million in a Series A after FTX's fall and aims for global expansion into 95% of the world's GDP by 2024