According to CoinGecko data on March 11th, BackPack, a cryptocurrency trading platform, had a trading volume of 845 million US dollars in the past 24 hours. The SOL/USDC spot trading pair on the platform had a trading volume of 697 million US dollars in the past 24 hours, second only to Binance (the USDT+FDUSD spot trading pair had a trading volume of approximately 1.196 billion US dollars). As previously BackPack announced on February 28th that it had completed a strategic Series A financing round with a valuation of 120 million US dollars and a funding amount of 17 million US dollars. Placeholder led this round of financing, with participation from Hashed, Amber Group, Wintermute, Jump Crypto, and individual investors including the founder of Solana. Its first "pre-season trading competition" snapshot will be completed on March 18th.

Backpack.exchange and its ecosystem projects have announced the completion of a strategic financing round of $17 million, with a valuation of $120 million. The financing round was led by Placeholder, with participation from Hashed, Wintermute, Amber Group, Robot Ventures, Selini, Delphi Digital and others. Backpack's ecosystem includes the Backpack wallet, exchange, and the Mad Lads NFT project, which is ranked number one in the Solana ecosystem. The Backpack core team are also developers of the Solana smart contract framework Anchor and the "executable NFT" (xNFT) token standard.

According to official news from Backpack, the maintenance work of Backpack has been completed and the trading activity of Backpack has now resumed.

Backpack's trading activity has been temporarily suspended due to a sudden preventive maintenance service request initiated by the cloud service provider. Backpack added that trading will resume immediately after maintenance work is completed.

According to official sources, there is a known Ledger signature issue in Backpack Wallet, which will be resolved in the upcoming Chromestore update.

Backpack, a Solana-based NFT wallet app, has announced the upcoming launch of its regulated cryptocurrency exchange, Backpack Exchange, which has received a Virtual Asset Service Provider license for Exchange Services from the Dubai Virtual Assets Regulatory Authority. The exchange is built around technologies like zero-knowledge proof of reserves and multi-party computation and aims to prioritize investor protection and risk assurance. Backpack Exchange will initially launch in private beta for members of Coral's existing communities and plans to open to the general public in the first quarter of 2024, starting with spot trading of cryptocurrencies and later expanding to derivatives and margin trading.