Backpack CEO rejects OTC cash-out claims, concedes missteps on ‘witch hunts’
Backpack founder Armani Ferrante denied that the team sold BP tokens over-the-counter to cash out, calling the rumors “FUD.”Ferrante said earlier OTC comments were only meant to help large buyers find liquidity, not to facilitate insider sales.He admitted the exchange’s handling of “witch hunt” Sybil cases was “too mechanical” and promised re-evaluations, while downplaying short-term FDV as a meaningful metric.
2026-03-27 14:37:42
