The Legal Strategy Behind Crypto Exchange Backpack’s Token-to-Equity Program

In recent developments, backpack co-founder Can Sun said the exchange’s upcoming token-to-equity conversion program threads the needle on securities laws. Looking closer, market participants highlight key drivers such as liquidity…

Backpack Pledges 20% Equity to Token Stakers Amid IPO Expansion Plans

In recent developments, backpack Exchange has introduced a model allowing users to exchange their platform tokens for a collective 20% stake in the company’s equity. Backpack CEO Armani Ferrante announced…

Backpack pledges 20% equity to token stakers amid IPO plans

In recent developments, the equity offering builds on Backpack’s token announcement earlier this month, in which the first 62.5% of tokens will be distributed to users. Looking closer, market participants…

Crypto exchange Backpack to launch token with unlocks tied to IPO goal

In recent developments, backpack founder Armani Ferrante says the company’s staff and investors won’t get an allocation at its upcoming token launch to avoid insiders “dumping on retail.” Looking closer,…

Backpack exchange launches beta testing of prediction market platform

In recent developments, backpack exchange launched an invite-only beta for its Unified Prediction Portfolio, letting users hedge and trade across markets in a single crypto account. Looking closer, market participants…