The acquisition positions Backpack Exchange to offer a full suite of cryptocurrency derivatives across the European Union, starting with its status as the region’s only regulated perpetual futures provider.
The beta campaign highlighted a growing interest in accessible decentralized finance (DeFi) platforms, emphasizing user-friendly features for those new to onchain trading.
"Who can ban Bitcoin? Nobody," he stated. "These tools will develop one way or another because everyone will strive to reduce costs and increase reliability."
The Series A round was led by Borderless Capital, with additional support from SOVO Ventures, Mapleblock, and Algorand Ventures, among others. The funding aims to enhance Folks Finance’s ability to address liquidity fragmentation in the DeFi ecosystem, particularly through its flagship xChain application.
The U.S. Securities and Exchange Commission (SEC) has initiated the reimbursement process for investors affected by the failed blockchain project BitClave, nearly two years after announcing its plans. The decision
