The crypto industry is at an inflection point following legacy bank failures and black swan events in the crypto space, according to the Mad Lads founder.
The success of the recently launched Backpack cryptocurrency exchange was a testament to a maturing crypto industry that demands more trustworthy exchanges, Armani Ferrante, the founder and CEO of Backpack, told Cointelegraph in an exclusive interview on Feb. 27.
“What we saw was ultimately just validation of the thesis that the world needs a new trustworthy crypto exchange,” he said.
Backpack surpassed $1 billion in 24-hour volume on Feb. 18, within four days of the launch of its trading pre-season. The exchange’s daily trading volume was down 6.4% to $296 million in the 24 hours leading up to 5:30 pm CET (4:30 pm UTC) on Feb. 27, according to CoinGecko data.
