Launched invite-only private beta for Redacted, a new prediction markets product with unified portfolio cross-margining and cross-collateralization across spot, spot-margin, borrow-lending, perpetual futures, prediction markets, crypto, and fiat in a single subaccount balance.

Listed among Sei Network's supported access points for users to enter the Sei ecosystem, alongside major exchanges like OKX, Coinbase, and Robinhood.

Included in a crypto watchlist for the next 6 months as a Solana exchange capturing retail flow with perp support.

Backpack Exchange runs an omikuji (fortune-telling) campaign.

Reaches 2x the perpetuals trading volume of Kraken before launching in key geographies, stock perpetuals, or marketing spend.

Joined the Phishing Defense Network as a founding partner alongside MetaMask, WalletConnect, and Phantom for real-time detection and protection against advanced phishing threats.

Experienced a trading glitch involving LIT/Lighter that caused liquidations, then reimbursed affected users with no net losses.

Offers borrowing at 0.6% for ETH and 0.29% for HYPE.

Running a $100,000 prize pool competition for top realized PnL traders who trade $1M+ perpetuals volume and post their PnL card.

Platform offers 16% annual yield on MON tokens through combined lending and staking rewards.

Proof of Reserves feature is available on the platform as a security and transparency measure.

Platform adds MON token lending feature that stacks native staking yield on top of lending yield, with lent assets usable as perps collateral.

Revenue reaches nine figures ($100M+), marking a major financial milestone for the platform.

Platform adds configurable withdrawal delays as optional security feature, with address book whitelisting to skip delays and email notifications for withdrawal requests.

Grid Bot trading feature goes live on the platform, with a demonstration stress test conducted during FOMC meeting volatility.

Season 4 motto establishes priority hierarchy: PnL over Volume over Points for the ongoing season.

Liquidation push notification warnings launch on the mobile app, providing real-time alerts to users.

$STABLE token trading goes live on the platform at launch, with limited-time achievements and rewards available.

Total perpetuals volume hits $250 billion milestone in Season 4, Week 2, with the season having 8 weeks left.

Backpack support launches on CollabLand, enabling all CollabLand communities to connect with Backpack across EVM and Solana chains for token-gated roles, access, and verification.

Transaction simulation feature launches on Monad integration, enabling users to see projected outcomes of transactions before confirming, with Blockaid technology powering the implementation.

The platform is expected to conduct its Token Generation Event in 2026.

Auto-lend feature launches, allowing users to earn 5% on USDC while simultaneously trading on the platform.

Backpack integrates with OpenMind AGI platform, enabling users to connect Backpack wallets and claim Backpack badges on the OpenMind app.

Three new community team members join the project (@ayo_bandara, @Uchiha0011, @lorxxcy) and an Abu Dhabi meetup is announced for traders and community members.

The platform offers zero fee Monad token swapping.

Platform adds $MON collateral support, borrow-lend markets, and spot margin trading capabilities now live.

The platform uses Zerion API infrastructure for sub-second portfolio, token, and NFT data loading on Monad chain.

The platform offers zero fee USD on/off ramps from local banks globally and zero fee bridging for USDC/USDT to Monad mainnet.

$MON spot and perp trading goes live with up to $32K in rewards available through Monad Mania trading event.

Deposits open for $MON, $USDC, and $USDT following Monad Mainnet launch, with early users earning $20K+ and 50 NFTs through wallet activities and $MON spot and perp trading coming soon.

Zero-fee validator launches for staking Monad tokens, with users confirming successful staking operations.

The platform airdrops $MON, $CHOG, and other Monad ecosystem tokens throughout 24 hours for Monad Mainnet launch. Participation requires importing claim wallet and posting deposit address screenshots.

Monad integration launches tomorrow with fully integrated wallet features including swap, mint, explore, zero bridge fees, and perpetuals and spot trading on the exchange.

The platform launches aggregate subaccount portfolio viewing feature, allowing users to check their combined subaccount portfolios in one view.

Token Generation Event (TGE) has started, accompanied by a gift distribution mechanism.

App upgrade launches with integrated wallet, exchange, and DEX functionality in one application, optimized for users managing multiple wallets.

The platform will add credit cards and collateralized credit lines that enable borrowing against crypto collateral without liquidating positions.

Season 4 starts and new products are coming to the platform.

Backpack integrates Monad ecosystem on mainnet launch day (Monday) with MON spot and perpetual trading available from Day 1. Early users receive rewards through partnerships with naddotfun and lootgo_official, plus prize distributions including $10K in MON, 20 ChogNFT, and 30 Lilstarrrs.

The exchange hit $2B+ daily volume highs and surpassed $300B in cumulative trading volume.

Trading volume on the exchange has grown approximately 10x year-to-date.

Backpack acquired FTX Europe and reimbursed $50 million to FTX collapse victims.

Backpack generated $20 million in revenue during October 2024.

Season 3 enters its final week before ending.

Armani Ferrante will speak at Solana's Breakpoint conference in Abu Dhabi to present updates about Backpack.

A Backpack team member officially joins and participates in a newly formed Base user community in Japan, expanding regional community presence.

Captain Affiliate Program launches, enabling participants to earn fees through education, retention, and user onboarding activities.

Stablecoin infrastructure is under development.

A points campaign offering rewards for existing wallet tokens has 4 days remaining, with Backpack wallet users receiving doubled points during the promotion.

Automated Liquidity Platform rolls out now, with RFQ & Convert system going live, trading bots coming soon, and Stocks v1 launching soon with Superstate partnership.

Armani Ferrante announced Backpack cards are incoming, expanding the platform into card-based financial products.

Backpack Exchange reached $200B in total perpetuals trading volume as of Season 3 Week 8.

A community call on November 9 will cover Backpack Season 3 and a Monad airdrop for MadLads holders.

New features are live: TradingView charts for exchange trading and pending bridge transaction management in the wallet.

Monad Mainnet will be fully supported on both Backpack Wallet and Exchange at launch day 1.

PAXG (Paxos Gold) is now available on the platform, allowing users to invest in gold-backed cryptocurrency.

Platform distributed $1,000 in rewards to Solana Mobile traders.

MNT perpetual futures are now available for trading on the platform.

Partnership with junkfun_ launches offering users 2x points boost, campaign runs October 31 to November 14.

APT trading pairs launch with additional rewards, yield opportunities, and points for traders.

Backpack integrated its unified wallet and exchange directly with Sei Network, expanding beyond Solana to support another blockchain ecosystem.

Platform launches zero-fee fiat on/off ramps with no size limits for direct bank transfers.

MET (Meteora) spot and perpetual trading pairs now live with points and limited-time achievements available for traders.

Armani Ferrante announces in Discord that Backpack positions itself as the first fully-regulated, hybrid CeFi-DeFi institution and releases the previously promised roadmap details.

Backpack partners with MetaMask, WalletConnect, and Phantom on a global real-time phishing defense network for decentralized crypto security.

Backpack becomes an official launch partner for Solana Mobile's Seeker Season with $1,000 trading fee coverage available through the Solana dApp Store.

Superstate Inc. partners with Backpack as its first CEX for tokenized equities trading.

CEO Armani Ferrante issues official statement addressing the recent liquidity issues and market crash, announces a detailed roadmap release coming within the next day, and confirms Season 4 will continue as planned with major releases in development for years upcoming.

BNB Chain integration goes live on Backpack Wallet.

HyperEVM is now live on Backpack with on and off ramp functionality from stablecoins on every chain and USD banks globally.

Backpack runs an event with Solana Mobile offering 1K fee rebate and airdrop farming opportunities with estimated ~3K profit.

Mass liquidation event results in 7-8 figure losses for users, with KFC vouchers offered as compensation.

Backpack partners with Superstate to become the first centralized exchange to list SEC-registered tokenized equities on-chain via Solana, offering real stocks (not synthetics) with same CUSIP codes as Nasdaq/NYSE to non-U.S. users, with launch coming in the next few weeks.

Backpack faces backlash after offering 200 KFC vouchers to users who lost the most money, with the promotion announced on Chinese social media to "bring warmth to the community."

The Monad airdrop claim portal is now open with eligible Backpack users and Mad Lads able to claim by tapping a banner in Backpack Wallet.

Monad announces $MON airdrop with Backpack users listed among eligible recipients, with a claiming deadline of November 3, 2025.

Official account warns of active scam campaign where impersonators pretend to be Mad Lads/Backpack staff, sending fake ambassador recruitment calls and Calendly links via Twitter/X DMs.

Co-founder Can Sun is specifically accused of inventing the false "margin lending" rationale that SBF used during FTX's collapse, adding detail to his previously disclosed role as FTX legal counsel.

CEO publicly identifies lack of liquidity and absence of internal market maker as the core structural issues exposed during the crash, explaining the exchange intentionally avoided internal market making due to FTX/Alameda concerns. Circuit breakers and vaults are under consideration as solutions, while Binance announces $284M compensation to users affected by crash-related exchange failures.

CEO Armani Ferrante releases full postmortem on liquidation event described as the largest liquidation in crypto history. Clarification provided that traders who lost money will not receive KFC compensation.

Claims spread on crypto Twitter that liquidated users were compensated with KFC chicken boxes, adding a new viral meme angle to the ongoing controversy.

CEO Armani Ferrante publicly accuses competitors of orchestrating a paid FUD campaign over the $40k settlement issue affecting 40 users. Critics highlight that co-founder Can Sun previously served as legal counsel for FTX.

Founder Armani Ferrante personally lost $14.5M in FTX collapse, subsequently purchased FTX EU debt, and reimbursed $35M in user funds without seeking repayment.

Specific quantification emerges showing the liquidation controversy involves only 40 cases with a net effect of zero, as platform supporters continue dismissing the allegations as unfounded FUD.

Public criticism emerges linking founder to FTX/SBF background amid the ongoing liquidation controversy; related NFT project (MadLads) community members express strong negative sentiment calling to "send Backpack to zero."

Social media controversy emerges claiming liquidated users lose subsequently deposited funds to debt obligations; platform officially refutes allegations as baseless FUD, citing daily attestations showing 0 bad debt.

Platform successfully stabilized operations during a massive liquidation event exceeding $20B when competitor platforms allegedly froze or became unavailable, demonstrating operational resilience during extreme market stress conditions.

Daily Proof of Reserves feature highlighted during a day of apparent market stress, emphasizing platform's commitment to transparency and reserve verification.

ZEC (Zcash) perpetual futures trading is now live on the platform, adding to the expanding derivatives offerings.

Platform achieves $4.2 billion in 24-hour perpetual futures volume, representing 3x Kraken's volume, before full EU ramp-up and Japan launch.

$PIPE spot and perpetual futures trading is now live on the platform, with the fourth season rank drop distributed and 100K $PIPE available in achievement rewards.

$W perpetual futures trading is now live on the platform with points earning and limited-time achievements available.

Mantle ($MNT) perpetual futures are now live on the platform with traders able to earn points and unlock limited-time achievements.

Platform reports $3 billion in volume over the weekend, achieved without fully ramped EU operations and before Japan and US market launches.

Aptos blockchain goes live in Backpack Wallet with integration to Thala protocol, offering $50k+ in rewards for users accessing swaps, stablecoins, and liquid staking.

A points system called "Backpack Points" is being introduced to the platform.

XPL token borrow/lend, spot-margin, and collateral features go live, all cross-margined with perpetuals.

Reports $196.5B total volume over last 12 months with $504.5M open interest and nearly $1B in combined lending/borrowing activity.