Backpack Launches SEC-Registered Tokenized Shares amid Liquidation Controversy – “The Defiant”
Backpack, a cryptocurrency exchange and wallet platform founded by former FTX and Alameda Research personnel, has launched a new offering allowing users to trade tokenized shares of SEC-registered U.S. stocks. This rollout follows a recent surge in controversy after some users reported deposit irregularities during a volatile market period. In collaboration with fintech company Superstate, led by Robert Leshner, Backpack integrated the Opening Bell platform to enable eligible non-U.S. users to buy, sell, and margin trade on-chain versions of actual company shares. Unlike many existing tokenized stock products that rely on synthetic representations, Superstate’s tokens correspond to genuine equity, granting












