Backpack Exchange, a centralized crypto trading company founded by former leaders of FTX and Alameda, is currently negotiating terms for new financing at a $1 billion pre-money valuation, according to sources. This fundraising effort, initially targeting $50 million, comes as crypto startups led by alumni of previously collapsed exchanges are gaining increased investor interest, driven by a broader market recovery and a focus on transparency to regain confidence in centralized crypto platforms.
Backpack Exchange seeks $50 million funding at $1B valuation
