Amid tightening global crypto regulations, Backpack, a crypto exchange founded by former FTX executives, has broadened its reach to 11 US states, including California, Colorado, Indiana, Missouri, Wyoming, and others.
In a Feb. 21 announcement on the social media platform X (formerly Twitter), the company disclosed its availability to residents within the states above, with CEO Armani Ferrante outlining plans to consolidate the exchange’s presence in the US, saying:
“Today, we beginning our journey to bring Backpack Exchange into the USA. It’ll be slow. It’ll be steady. It’ll be hard. But it’ll be worth it. If we don’t support your state yet, hold on. We’ll get there. This is something that will take years to complete. But we’re committed to doing it right.”
The exchange, currently in its beta phase, facilitates spot trading activities and intends to diversify into derivatives, margin trading, and more as it secures additional licenses globally. It reportedly aims t
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