Crypto exchange Backpack nears unicorn status as CEO lays out token strategy

cryptonews

Feb 10

Backpack Exchange, the crypto trading platform founded by former FTX and Alameda leaders, is reportedly in talks to raise around $50 million in new financing at a pre-money valuation above $1 billion....

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leaders, is reportedly in talks to raise around $50 million in new financing at a pre-money valuation above $1 billion....</p>\n\n<a href=\"https://crypto.news/crypto-exchange-backpack-nears-unicorn-status/\">Source Link</a>\n\n</div>\n","source":"crypto_news_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto exchange Backpack nears unicorn status as CEO lays out token strategy</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto exchange Backpack nears unicorn status as CEO lays out token strategy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-10 14:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/crypto-exchange-backpack-nears-unicorn-status/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Backpack Exchange, the crypto trading platform founded by former FTX and Alameda leaders, is reportedly in talks to raise around $50 million in new financing at a pre-money valuation above $1 billion....</p>\n\n<a href=\"https://crypto.news/crypto-exchange-backpack-nears-unicorn-status/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4206","symbol_name":"工业集团企业","start_time":0,"source_url":"https://crypto.news/crypto-exchange-backpack-nears-unicorn-status/","article_id":"2610761523","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/crypto-exchange-backpack-nears-unicorn-status/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2610761523","pubTimestamp":1770704972,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Backpack Exchange, the crypto trading platform founded by former FTX and Alameda leaders, is reportedly in talks to raise around $50 million in new financing at a pre-money valuation above $1 billion.Backpack Exchange is reportedly in discussions to raise around $50 million at a valuation exceeding $1 billion, potentially elevating it to unicorn status.CEO Armani Ferrante outlined a tokenomics structure aimed at preventing early insider sell-offs and aligning incentives with long-term product growth.The company has also revealed plans for a 1 billion token supply, with 25% allocated at the token generation event, including community rewards.If completed, the round would cement Backpack’s position in the crypto sector and potentially elevate it into unicorn status, a milestone for a firm still emerging from the post-FTX landscape.The discussions come amid increased investor interest in fintech and crypto startups, and Backpack could parlay the fresh capital into expanding its exchange, ","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4206":"工业集团企业","TGE":"Generation Essentials Group/The"},"translate_title":"随着首席执行官制定代币战略，加密货币交易所背包接近独角兽地位","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TGE":1},"content_text":"Backpack Exchange, the crypto trading platform founded by former FTX and Alameda leaders, is reportedly in talks to raise around $50 million in new financing at a pre-money valuation above $1 billion. \n\n\nSummary\n\n\n\nBackpack Exchange is reportedly in discussions to raise around $50 million at a valuation exceeding $1 billion, potentially elevating it to unicorn status.\nCEO Armani Ferrante outlined a tokenomics structure aimed at preventing early insider sell-offs and aligning incentives with long-term product growth.\nThe company has also revealed plans for a 1 billion token supply, with 25% allocated at the token generation event, including community rewards.\n\n\n\nIf completed, the round would cement Backpack’s position in the crypto sector and potentially elevate it into unicorn status, a milestone for a firm still emerging from the post-FTX landscape.\nThe discussions come amid increased investor interest in fintech and crypto startups, and Backpack could parlay the fresh capital into expanding its exchange, wallet, and regulatory footprint globally. \nThe $50 million figure is a baseline, and reports suggest the eventual round size could grow larger.\nBackpack CEO outlines tokenomics strategy\nMeanwhile, Backpack CEO Armani Ferrante took to X to flesh out the company’s tokenomics framework ahead of a future token generation event. \n\nIn the Backpack tokenomics, we have one guiding principle.– Insiders \"dumping on retail\" should be impossible: no founder, executive, employee, or venture investor should receive wealth from the token until the product hits escape velocity.Of course it begs the question, what… https://t.co/mltBgm5SPu— Armani Ferrante (@armaniferrante) February 9, 2026\n\nFerrante emphasized that the structure is designed to prevent early insiders from “dumping” tokens on retail investors, with no founders, executives, or venture backers receiving unlockable tokens until the product reaches significant traction, a concept he described as product “escape velocity.”\nHe also highlighted Backpack’s long-term goal of eventually going public in the U.S., signaling ambition beyond private fundraising and into regulated capital markets. \nAccording to Ferrante, aligning token incentives with users, not short-term speculation, lays a foundation for sustainable growth and broader global adoption.\nIn a related post on the official Backpack account, the team confirmed elements of its upcoming token issuance plans. This includes a 1 billion token supply at launch and the allocation of 25 % of tokens at the Token Generation Event (TGE), with a portion earmarked for active community participants and points holders.\n\n\n\n\n\n                Read more:\n            \n\n                Hyperliquid tops Coinbase in 2025 notional trading volume as on-chain perps surge","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}