Backpack Exchange, a company founded by former employees of the now-defunct exchange FTX, is in discussions to raise $50 million at a $1 billion pre-money valuation while also revealing plans for tokenization, according to Axios. This move comes amidst a broader industry trend where tokenization is becoming a popular method to marry traditional finance with blockchain technology. Additionally, crypto startups are seeing renewed investor interest due to a recovering market sentiment and a focus on transparency and compliance.
Backpack Exchange seeks $50M funding at $1B valuation, eyes tokenization: Axios
