CEX vs. DEX in 2025: The future of trading feat. Armani Ferrante (Backpack)

In this episode of Hashing It Out, host Elisha Owusu Akyaw sits down with Armani Ferrante, CEO of Backpack, to discuss the evolution of centralized exchanges, Backpack’s innovative approach to trading and the role of compliance in crypto. From proof of reserves to Backpack’s new perpetual futures system, they dive into how exchanges can build trust in a post-FTX world. (00:00) – Intro and guest Introduction (01:12) – Crypto in 2025 (06:02) – The birth of Backpack (09:51) – Lessons from FTX (15:04) – Proof of Reserves debate (22:05) – What makes Backpack unique? (27:32) – Traders’ reactions (29:04) – New blockchain integrations (31:22) – Solana’s future (35:50) – DEXs vs. centralized exchanges  This episode of Hashing It Out is brought to you by Cointelegraph and hosted by  Elisha Owusu Akyaw, with post-production by Elena Volkova (Hatch Up). Follow Cointelegraph on X @Cointelegraph. Follow this episode’s host, Elisha Owusu Akyaw (GhCryptoGuy), on X at @ghcryptoguy. Check out Cointelegraph at cointelegraph.com. If you like what you heard, rate us and leave a review! The views, thoughts, and opinions expressed in this podcast are its participants’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This podcast (and any related content) is for entertainment purposes only and does not constitute financial advice, nor should it be taken as such. Everyone must do their own research and make their own decisions. The podcast’s participants may or may not own any of the assets mentioned.