On November 20th, cryptocurrency trading platform Backpack Exchange announced that SOL/USDC trading pair is now available for trading.

On November 19th, the cryptocurrency trading platform Backpack Exchange announced that the website is currently inaccessible. The engineering team is working hard to restore normal site operation.

According to 21co analyst Tom Wan, Dune Analytics data shows that the USDC in Backpack Exchange, a cryptocurrency company launched by the former FTX management team, has reached nearly 200,000 coins, specifically 199,246 coins at the time of writing. The SOL token has reached 224,659. The total balance of the exchange is $13,805,836.

Former FTX general counsel Can Sun and former Alameda Research software developer Armani Ferrante have founded Trek Labs, a Dubai-based crypto exchange that recently obtained a license from the Virtual Assets Regulatory Authority. The exchange, which will operate under the name Backpack Exchange, will allow users to self-custody their funds and plans to launch in beta later this month. Ferrante is also the founder of digital wallet company Backpack, which closed a $20 million funding round in September 2021, with FTX's venture arm contributing half of the investment. Sun was a key witness in the recent criminal trial of his former boss, Sam Bankman-Fried, and served as general counsel for the failed FTX exchange until its collapse in November 2022.