--- title: How crypto exchange Backpack climbed its way to success... description: Backpack, a crypto exchange and wallet, experienced significant growth despite the collapse of its major investor, FTX. It achieved a trading volume of $27.5... canonical: https://daily.dev/posts/how-crypto-exchange-backpack-climbed-its-way-to-success-after-its-major-investor-ftx-died-c3oy2rw6k twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: How crypto exchange Backpack climbed its way to success after its major investor FTX died | daily.dev og:description: Backpack, a crypto exchange and wallet, experienced significant growth despite the collapse of its major investor, FTX. It achieved a trading volume of $27.5... og:url: https://daily.dev/posts/how-crypto-exchange-backpack-climbed-its-way-to-success-after-its-major-investor-ftx-died-c3oy2rw6k og:image: https://api.daily.dev/og/posts/C3oy2rW6k.png og:image:alt: How crypto exchange Backpack climbed its way to success after its major investor FTX died og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # How crypto exchange Backpack climbed its way to success after its major investor FTX died **[TechCrunch](https://daily.dev/sources/tc)** · 4 min read · 0 upvotes · 0 comments ## Summary Backpack, a crypto exchange and wallet, experienced significant growth despite the collapse of its major investor, FTX. It achieved a trading volume of $27.5 billion during its beta phase and added 252,000 KYC'd users. Backpack's design aims to address the issues exposed by FTX, ensuring no single point of failure and enabling the operations of the exchange to be distributed across multiple entities. The company is also expanding into the world of xNFTs and plans for global expansion. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: --- Tags: [#nft](https://daily.dev/tags/nft) [View this post on daily.dev](https://daily.dev/posts/how-crypto-exchange-backpack-climbed-its-way-to-success-after-its-major-investor-ftx-died-c3oy2rw6k) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"How crypto exchange Backpack climbed its way to success after its major investor FTX died","url":"https://daily.dev/posts/how-crypto-exchange-backpack-climbed-its-way-to-success-after-its-major-investor-ftx-died-c3oy2rw6k","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/how-crypto-exchange-backpack-climbed-its-way-to-success-after-its-major-investor-ftx-died-c3oy2rw6k"},"datePublished":"2024-03-19T16:22:34.111Z","dateModified":"2024-05-09T09:06:08.895Z","description":"Backpack, a crypto exchange and wallet, experienced significant growth despite the collapse of its major investor, FTX. 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