【Market Update】90% of its assets were held on one exchange. When FTX collapsed, Backpack lost around $14.5 million overnight—that was 88% to 90% of its operating funds at the time. Founder Ferrante recently revisited the episode: just weeks before the collapse, FTX Ventures had led a $20 million funding round for the company. The irony? In 2025, the company that nearly went under bought FTX Europe for $32.7 million and secured an EU MiFID II license. A hard lesson: where you keep your money matters more than how much you make. Would you still put all your assets on one platform? Comment 1 for self-custody, 2 if you prefer convenience
$SOL $FTT $BTC
#Backpack #FTX #AssetSecurity
(Source: CryptoBriefing)
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