Backpack CEO says team has not sold BP tokens over-the-counter

Armani Ferrante, CEO of crypto exchange Backpack, has addressed recent fear, uncertainty, and doubt (FUD) surrounding the project. He stated that the Backpack team is not selling its tokens over-the-counter (OTC) to cash out and acknowledged that its criteria for handling Sybil accounts were "somewhat mechanical." Ferrante added that going forward, the team will focus on building and creating long-term value rather than on token price or fully diluted valuation (FDV). The clarification follows the recent Token Generation Event for Backpack's native BP token.