Buy Crypto- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Backpack CEO: The team did not cash out through OTC, and the short-term FDV has no practical significance
Backpack founder Armani Ferrante posted a response to recent community FUD, addressing topics such as OTC trading, Mad Lads equity, witch hunts, and token prices.
Armani stated that the team will not sell their tokens through OTC to cash out, and their previous comments about OTC were only to assist buyers in finding tokens. All users holding Mad Lads tokens before the TGE will retain their Backpack VIP status, while new users will not enjoy this status.
Additionally, Armani emphasized that the FDV value 24 hours or a week after the TGE is not practically significant, and short-term FDV is not a core metric. The team's interests are deeply tied to the success of the token; if the token price goes to zero, the team will not be able to earn profits.
Regarding witch hunts, he acknowledged that the team's previous handling was too mechanical and did not fully consider the complexity of community dimensions. The team is currently re-evaluating relevant cases. The team is continuing to advance the review of witch hunt cases and return to development work.
You may also like
Deconstructing RAVE Dealer Control Techniques
70x in a Month: When $RAVE Put Istanbul’s Dancefloor on the Chain
A Web3 project with zero VCs and no whitepaper started with a midnight party for 200 people. Eighteen months later, its token $RAVE is up 70x, and its contract liquidations briefly eclipsed Ethereum’s. Is this just pure speculation, or are we looking at a new breed of cultural asset?
Bearish Traders Continue to Short Bitcoin | Rewire News Morning Update
Is Nasdaq About to Reach a New High, Is the Bull Market Back?
Goldman Sachs Applies for Bitcoin ETF, Wall Street's Final Bastion Falls
Only Working 2 Hours a Day? This Google Engineer Got His Job Done Using Claude for 80% of It
Interpreting Stanford's 423-page AI Report: US-China Gap Narrows to 2.7%, Tsinghua's DeepSeek Enters Global Top Ten
YouTube will become the next new type of bank
How to Reshape On-Chain Transaction Logic? Exploring the Rise of Stablecoin Execution Layers
Why AI Memecoins are Failing the Reality Test
From 90,000% gains to a 98% crash—discover why the AI Meme bubble is bursting and what the shift to "AI Utility" means for your portfolio.
Morning News | Kraken receives $200 million investment from Deutsche Börse; Goldman Sachs submits application for Bitcoin Premium Income ETF; Walsh discloses his cryptocurrency holdings
Hong Kong licensing, stablecoin landscape changes: Who is reshaping the next generation of the financial landscape?
IOSG: TAO is like the Elon Musk who invested in OpenAI, Subnet is like Sam Altman
Stablecoin License Battle Concludes: Anxiety-Ridden Hong Kong, Will Not Wait for the Next Tether
You can grasp a new field in half an hour, how to quickly establish a cognitive framework using AI?
Franklin Templeton's latest research: How to understand RWA tokenization
Espanyol vs FC Barcelona: A Derby Fought with Fire and Quality
The Espanyol vs FC Barcelona derby delivered high-intensity football as Barca won 4-1, moving nine points clear at the top of LALIGA. Lamine Yamal's masterclass, Ferran Torres' brace, and a passionate city rivalry on full display. WEEX, Official Regional Partner of LALIGA in Hong Kong and Taiwan celebrates the beautiful game.
DeAgentAI announced the establishment of the AIA Ecological Fund, focusing on the "AI Agent + Physical AI" track
Deconstructing RAVE Dealer Control Techniques
70x in a Month: When $RAVE Put Istanbul’s Dancefloor on the Chain
A Web3 project with zero VCs and no whitepaper started with a midnight party for 200 people. Eighteen months later, its token $RAVE is up 70x, and its contract liquidations briefly eclipsed Ethereum’s. Is this just pure speculation, or are we looking at a new breed of cultural asset?
App