Former FTX and Alameda Research employees are preparing to open a Dubai-based cryptocurrency exchange soon.
Former FTX general counsel, according to a report by the Wall Street Journal Can Sun and old Alameda Research software developer Armani Ferrante will establish a new cryptocurrency exchange together. Ferrante will sit in the CEO seat of the stock exchange.
“Backpack ExchangeThis cryptocurrency exchange called ” dubai While it was stated that it would be centric, it was stated that the beta version could start at the end of this month. CEO Ferrantehad previously established a company called Backpack, which offered cryptocurrency storage services, but at this stage it merged Backpack with Backpack Exchange.
Exchange different from FTX will be supported by the reserve evidence system and security of user funds will be the primary working principle. Accordingly, the user funds in question will be given to the control of the users, not to the exchange.
In addition, the Backpack Exchange front is valued at over 100 million dollars. a 10% stake wants to sell.
In a recent statement made by Backpack, Backpack Exchange in Dubai Virtual Assets Regulatory Authority by a Virtual Asset Service Provider It was stated that it would be inspected as