Crypto exchange Backpack has reached the elusive unicorn status – a term used to describe firm with valuations of $1bn or more, Axios reported, citing sources familiar with the deal.
Crypto Exchange Backpack Hits Unicorn Status, Looks to Raise Over $50mn: Axios
10 February 2026 - 14:20 CET
The exchange led by founder and CEO Armani Ferrante is in talks to raise to over $50mn at a pre-money valuation of $1bn, according to the report. Created by former executives of defunct crypto giant FTX and Alameda, it started offering tokenized public equities last year.
With venture capital investments in web3 and crypto projects expanding, Backpack is now part of an illustrious list of companies, which recently added blockchain intelligence firm TRM Labs.
