Former FTX employees, including general counsel Can Sun, plan to launch crypto exchange Backpack, protecting user funds using lessons learned from FTX's failure
Wall Street Journal
Related Coverage
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- Former FTX general counsel who testified against SBF to lead new exchange Backpack: WSJ The Block
- Ex-FTX execs are launching a new crypto exchange and this time they promise to not lose customer money gambling on crypto and buying houses in the Bahamas. — The crypto industry is just one joke after another. — https://www.wsj.com/... @carnage4life@mas.to
- What could go wrong? James Herbick, MS, MBA
Discussion
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@marypcbuk.bsky.social
Mary Branscombe
on bluesky
What's the worst that could happen 🤷♀️ [embedded post]
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@caspiancey
H.E. Cas Piancey
on x
It's wild that anyone who worked in the weeds at FTX or Alameda gets to keep working in finance, let alone crypto [image]
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@caspiancey
H.E. Cas Piancey
on x
And I'm not saying this as though the government should get involved. The fact Zhu Su, Kyle Davies, Mark Lamb, and people from FTX can fuck so many people over so recently and then immediately get funded again speaks volumes about crypto and finance.
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@caspiancey
H.E. Cas Piancey
on x
Billion dollar business idea: another centralized cryptocurrency exchange [image]
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@digitalartchick
@digitalartchick
on x
Backpack you say? [image]
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@riddle245
@riddle245
on x
Not only is FTX estate trying to run back FTX 2.0 but now some other ex-FTX guys trying to get a 100M valuation on an exchange I see likely with their own token
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@deitaone
@deitaone
on x
#BITCOIN 🔸Ex-FTX Employees to Launch New Crypto Exchange Called Backpack — WSJ 🔸Ex-FTX Employees Can Sun, Armani Ferrante, Will Lead the Venture — WSJ 🔸Backpack Looking to Sell 10% Stake at $100 Million Valuation — WSJ
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@smtuffy
Sean Tuffy
on x
Rates need to go much higher, apparently
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@silvermanjacob
Jacob Silverman
on x
“Sun said he and Ferrante had hired other former FTX legal and compliance employees at Trek because of their skills and experience.” Oh is that why? https://www.wsj.com/...
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@zarchasmpgmr
@zarchasmpgmr
on x
I love the smell of financial and securities fraud in the morning.
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@quinnypig
Corey Quinn
on x
These folks seem trustworthy.
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r/Buttcoin
r
on reddit
WSJ News Exclusive | Key Witness at Sam Bankman-Fried Trial to Launch New Crypto Exchange