Backpack

SEC

2026-10-12 00:57:38

Market Brief: SEC Sues Former Linqto Executives, Kyle Samani Says His Biggest Angel Bet Is Backpack

The past 24 hours brought a dense mix of crypto, regulatory, market, and infrastructure developments. The U.S. Securities and Exchange Commission sued former Linqto executives William Sarris and Joseph Endoso, alleging they defrauded retail investors in the sale of more than $430 million in SPVs tied to pre-IPO unicorn shares between 2021 and 2024. In markets, The Block reported that U.S. spot Ether ETFs posted $542.1 million in net outflows last week, their worst week since January, while Solana ETFs saw $24.8 million in net outflows and snapped a 14-week inflow streak. Multicoin co-founder Kyle Samani said his largest personal angel investment is in Backpack, adding to the firm’s earlier move to place him on Backpack US’s board. Elsewhere, Argentina’s central bank comments on future bank crypto services appeared mixed, South Korean experts renewed calls for clearer digital asset rules after years of offshore migration by local projects, and security concerns spread across Ledger-related supply-chain reports, Tornado Cash fund movements, and a phishing incident involving COLDCARD’s X account. Cloudflare also announced its acquisition of Deno, with plans to bring self-hosted deployment support to Workers.

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Multicoin Cap

2026-10-10 15:55:25

Kyle Samani says his largest personal angel investment is in Backpack

Multicoin co-founder Kyle Samani said on Oct. 10 that the largest angel investment he has made personally went to Backpack. The disclosure came in a post on X and adds to Backpack’s earlier announcement on Sept. 2 that Samani had joined the board of Backpack US. Backpack had described Samani as a Multicoin Capital co-founder and an early Solana investor. The company said the appointment reflected a shared view between both sides on where global finance is headed: combining institution-grade risk controls with the efficiency and transparency of onchain markets. Samani has long focused on DeFi, blockchain infrastructure, and global capital markets, according to the information cited in the announcement.

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Backpack

2026-10-05 17:36:11

Backpack launches tokenized Brazil ETF EWZ on Solana

Digital asset platform Backpack has launched a tokenized version of the iShares MSCI Brazil ETF (EWZ) on Solana, giving users a way to trade tokenized certificates that represent shares of the ETF onchain. The rollout comes at a time when the Brazil-focused fund has been moving higher alongside a sharp rally in the local market following an unexpected presidential election result. The update was reported by Techub News, citing Crypto Briefing. The announcement centers on access to a tokenized form of the ETF through Solana rather than a separate fund launch, with trading tied to certificates linked to EWZ shares.

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Power US

2026-10-03 15:01:19

PUSA posts higher daily trading volume on Solana than on Nasdaq

Techub News reported that Power US, the token PUSA launched jointly by crypto wallet Backpack and tokenization platform Sunrise, recorded higher trading volume on the Solana blockchain yesterday than it did on the Nasdaq exchange. PUSA is described as a tokenized U.S. stock index product. The item cited @MessariCrypto as the source of the claim. The report did not provide specific trading figures, and no additional details were included beyond the comparison between Solana and Nasdaq activity for the day.

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Backpack

2026-10-03 07:34:57

Backpack founder Vibhu outlines 1:1 conversion between tokenized stocks and real shares

Backpack founder Vibhu said on X that the Solana ecosystem wallet and trading platform supports a two-way conversion model between tokenized stocks and actual shares. According to his explanation, Backpack operates as a full-service broker and offers a 1:1 conversion mechanism. The platform supplies initial liquidity first, and if on-chain demand exceeds available supply, it will gradually buy more shares through the brokerage side and mint matching tokens on-chain. Vibhu also said users can redeem tokenized equity holdings for actual stock shares. He described the setup as a two-way equity bridge that lets users move equity from a brokerage account onto the blockchain or transfer it back off-chain, while keeping the nature of the equity unchanged throughout the process.

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Backpack

2026-10-02 02:40:58

Backpack founder Armani Ferrante says Solana will become the unified financial layer for the global economy

Backpack founder Armani Ferrante said in a post on X that he believes Solana will become the unified financial layer for the global economy, and that its role will continue to expand over time. Ferrante also said Backpack wants to serve as the regulated backbone of that ecosystem. In his description, that scope would cover stocks, derivatives, and the wallet itself. The remarks frame Solana not only as a blockchain network, but as a broader financial base layer in Ferrante’s view, while positioning Backpack around regulated infrastructure within that ecosystem.

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Solana

2026-10-01 16:54:57

Report says Solana leads other blockchains in tokenized stock trading volume on-chain

Solana said in an official post that the number of tokenized stocks traded on its blockchain has surpassed that of every other chain. The claim was discussed in a report written jointly by Ondo, Backpack and xStocksFi, and released by Arrakis Finance. According to the summary cited by Techub News, the report examines trading activity for tokenized equities within the Solana ecosystem and looks at the factors behind its lead. It also includes related data points and observations tied to that market segment. No additional figures were disclosed in the brief. The source of the statement was identified as Solana’s official X post.

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Backpack

2026-09-27 14:38:47

Delphi Digital says Backpack stock tokens may offer a stronger claim on underlying shares

Delphi Digital said Backpack’s stock tokens may give holders a stronger claim on the underlying shares than many other tokenized stock products. The firm noted that holding a stock token does not always grant the same rights as holding shares through a broker, and that many stock tokens only settle in cash at redemption. In Backpack’s case, eligible holders can redeem tokens into stock positions in a Backpack brokerage account, then move those shares to another broker through the Automated Customer Account Transfer Service (ACATS) and the Depository Trust & Clearing Corporation (DTCC) system. Delphi Digital said those redeemed positions represent a security entitlement, which carries the same legal interest an investor would hold after buying stock through a traditional broker. It also said Backpack’s token itself is a claim on the entity that holds the shares, so the rights attached to the token and the redeemed stock position are not the same. According to the post, redemption changes the nature of the asset the investor holds while preserving stock exposure.

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