The Ledger Podcast Wallets, Identity, and AI: Exploring the future of crypto infrastructure
Jun 12, 2025
In this engaging conversation, Armani Ferrante, the founder and CEO of Backpack, shares his remarkable transition from Apple to the world of cryptocurrency. He discusses the fallout from the FTX collapse and the crucial need for resilience in the crypto landscape. The conversation delves into launching a crypto exchange in Japan, the challenges faced with next-gen NFTs, and balancing centralization with decentralization in exchanges. Armani emphasizes innovative solutions for user security and outlines his vision for a future where crypto and traditional finance coexist.
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Armani's Crypto Journey
- Armani has built diverse crypto infrastructure: developer tools, wallets, NFTs, DEXs, and compliant exchanges.
- His experience shaped a philosophy of building useful, resilient crypto products over many years.
Backpack's Origin Story
- Armani started Backpack to build apps on Solana after working on developer tools and wallets at Alameda.
- The initial focus was the XNFT concept to enable decentralized app ecosystems distributed via wallets.
Armani's FTX Collapse Experience
- Armani Ferrante learned about the FTX collapse while on a plane returning to Miami after his son's birth.
- The event blindsided him and nearly destroyed his company, but he chose to fight through it.