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@armaniferrante Avatar @armaniferrante Armani Ferrante

Armani Ferrante, the founder of Backpack, a crypto platform, addressed concerns about the platform's handling of user funds and liquidations during a recent market downturn. He emphasized that funds are safe and that the team has been working tirelessly to address user questions and concerns. The platform published daily proof of reserves to reassure users.

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Social category influence luxury brands #1859 finance XXXX% cryptocurrencies #3992 exchanges #6491 social networks XXX%

Social topic influence armani #28, over the #2186, solana #370, im a #381, team and #109, go viral #56, reserves 0.4%, take the #395, discord #3381, has been #3062

Top accounts mentioned or mentioned by @backpack @madlads @madvincent666 @gorbaganachain @backpackcn @solana @solanacoach @madsimon_sol @kookcapitalllc @lerolwen @therealchaseeb @diegoarmandoad @joaomendoncaaaa @coinbase @aeyakovenko @daidaibtc @lexnode @phantom @metaplex @0xbreadguy

Top assets mentioned Solana (SOL)

Top Social Posts #

Top posts by engagements in the last XX hours

"The ticker is"
X Link @armaniferrante 2025-09-07T02:48Z 150K followers, 63.3K engagements

"@kais7sol @MadLads @monad @solana hopium is not what got holders airdrops :)"
X Link @armaniferrante 2025-10-16T12:14Z 150K followers, 5051 engagements

"@daidaibtc @Backpack_CN We'll be addressing this. Extremely distasteful and not representative at all of the company. I'm honestly just really disappointed by the post"
X Link @armaniferrante 2025-10-11T15:11Z 149.8K followers, 5672 engagements

"@Backpack For more see"
X Link @armaniferrante 2025-09-05T14:11Z 150K followers, 4080 engagements

"@0xdoug It's extremely irresponsible to not have ADL. It's a horrible user experience. But unfortunately it's critical to keep a system solvent and sound"
X Link @armaniferrante 2025-10-11T04:42Z 150K followers, 2560 engagements

"Is there any example of a fork of a crypto network being more valuable than the original"
X Link @armaniferrante 2025-08-06T03:25Z 149.9K followers, 50.2K engagements

"I don't know what this means but it appears bullish"
X Link @armaniferrante 2025-10-12T16:43Z 149.8K followers, 18.9K engagements

"Crossed the 600k user threshold on the @Backpack chrome extension today. LFG. 🧱"
X Link @armaniferrante 2024-10-16T02:41Z 149.8K followers, 70.2K engagements

"@xiaomomo9999 @Backpack We publish it every day without exception"
X Link @armaniferrante 2025-10-12T00:54Z 149.9K followers, XXX engagements

"@crypto_bitlord7 No. Please reread"
X Link @armaniferrante 2025-10-11T22:35Z 149.8K followers, 6095 engagements

"Have a vision and patiently execute over a long period of time"
X Link @armaniferrante 2025-09-29T02:14Z 150K followers, 32K engagements

"@Heena__nazz @thecryptobankr @Backpack We prove it every single day with cryptography:"
X Link @armaniferrante 2025-10-12T00:14Z 149.9K followers, XX engagements

"Were literally talking about XX cases of this. The net effect: zero. Theres plenty of ways to FUD @Backpack but this isnt it"
X Link @armaniferrante 2025-10-12T00:46Z 150K followers, 45.9K engagements

"There was negative equity accounts yes. And they were covered by our insurance fund yes. This happened yesterday after which we published a proof of reserves as we do every single day without exception. Please note that bankruptcy is a valid state transition in any and all margin systems and you must always design with that in mind. Thats why there is always conservation between winners and losers in our system. Thats why we have an insurance fund as do all responsible margin exchanges"
X Link @armaniferrante 2025-10-11T23:32Z 150K followers, XXX engagements

"@USDT0_to @solana LFG"
X Link @armaniferrante 2025-10-15T16:17Z 150K followers, XXX engagements

"The timeline over the past few days has been out of control. Some things absurd. Some things deserved. Here's my perspective. - When the market crashed during the industry's largest liquidation event in history a lot of people got liquidated. This hurt a lot of people. The crash created a lot of questions. What's ADL Why is my account negative If I got liquidated will there be compensation - My policy and style is always to answer any and all questions in excruciating detail. My tweets are overly long. My replies overly technical. My tendency is to be as transparent as possible to give people"
X Link @armaniferrante 2025-10-13T05:32Z 150K followers, 53.3K engagements

"Slowly but surely. Brick by brick. We climb. 🧗"
X Link @armaniferrante 2025-05-09T14:23Z 149.8K followers, 18.1K engagements

"@KookCapitalLLC Context"
X Link @armaniferrante 2025-10-13T10:12Z 150K followers, 14.8K engagements

"Respectfully this is false. Nothing broke internally and the system worked as intended. The primary issue--which isn't really what any of this FUD is about--was that all liquidity dropped off the books. As a result liquidations filled at bad prices as markets moved. The solutions are either a) the exchange needs to run a market maker that never pulls out of the market during volatility or b) add circuit breakers"
X Link @armaniferrante 2025-10-12T11:32Z 149.7K followers, 3103 engagements

"@_Mrfiend We have several price band protections you can see here. However we don't have circuit breakers--which is really what you need to protect against something like yesterday. The challenge with yesterday was that liquidity dropped off the markets"
X Link @armaniferrante 2025-10-12T05:23Z 150K followers, XXX engagements

"@0Xweb3_guy @DefiLlama @Backpack These numbers are all wrong. See and the reserves page therein"
X Link @armaniferrante 2025-10-16T03:31Z 150K followers, XXX engagements

"@River_Bluffer @daidaibtc @Backpack_CN We don't control how the market trades. We are a completely neutral platform. That screenshot is liquidity drying up because market makers dropped out when several exchanges went down (we didn't go down)"
X Link @armaniferrante 2025-10-11T15:34Z 150K followers, 2567 engagements

"waiting for my KOL check"
X Link @armaniferrante 2025-10-08T15:05Z 149.8K followers, 40.3K engagements

"Best to be careful and not pread hopium to people by mixing up different products companies and drops together into one. Backpack is not related to Bands dot fun or the tokens they issue and Backpack has been very intentional about how the seasons and how points work from the beginning. Generally it's best to follow official communications from each respective project and to not assume anything that hasn't been said. (This is not a criticism of any team. But setting expectations like this has a high probability of upsetting people down the line.)"
X Link @armaniferrante 2025-10-16T07:18Z 150K followers, 4158 engagements

"A lot of people and companies were hurt today. Sending love to the timeline. ❤"
X Link @armaniferrante 2025-10-11T04:48Z 150K followers, 47.7K engagements

"Call me crazy but the sheer scale of the FUD over the past day makes me think its a paid operation by a competitor. We are literally talking about $40k from approximately XX users that ran into this settlement issue. Any real @Backpack user would have FUDd way harder on much more substantive criticisms. This argument that went viral is so weak that it begs the question how did it go viral in the first place"
X Link @armaniferrante 2025-10-12T10:08Z 150K followers, 99K engagements

"NFTs or Collectibles"
X Link @armaniferrante 2025-07-25T03:12Z 149.8K followers, 42.3K engagements

"So people actually do get paid to FUD us. Incredible technology. 🤣"
X Link @armaniferrante 2025-10-13T10:10Z 150K followers, 51.3K engagements

"@Lukilie_on_SOL Yes it was known after we experienced it and resolved it by crediting users dollar for dollar for their deposits. Then I was able to explain it to people. Then a screenshot happened"
X Link @armaniferrante 2025-10-13T05:56Z 149.9K followers, XXX engagements

"Hate to break it to you folks but theres no kfc voucher"
X Link @armaniferrante 2025-10-12T18:04Z 150K followers, 76.1K engagements

"Everything in your Backpack 🎒 (literally everything)"
X Link @armaniferrante 2025-10-15T14:45Z 150K followers, 22.6K engagements

"Where some see McDonalds we see KFC. Think different"
X Link @armaniferrante 2025-10-14T11:44Z 150K followers, 19.1K engagements

"Dropping this here as it's important on a day like today. @Backpack's daily Proof of Reserves. Hope everyone is doing ok"
X Link @armaniferrante 2025-10-11T07:55Z 150K followers, 73.1K engagements

"FUD is fuel"
X Link @armaniferrante 2025-10-12T16:55Z 150K followers, 47.1K engagements

"And for the record weve only seen XX instances of this. All for tiny sums (hundreds of dollars). Largest one was on the order of thousands. If any more come in for any reason at all they will all be handled without question"
X Link @armaniferrante 2025-10-12T00:49Z 150K followers, 24.2K engagements

"Waking up to see this post I'm a exhausted disappointed and heart broken to see it go viral and to see the responses. No one cares about our users more than our team and if you take the time to actually read our Discord and my tweets over the past day I hope you'll see that. The team has spent the past XX hours all hands on deck to make sure every single user story has been accounted for. I don't have a crisis management team for this post. I honestly am shocked by it given how much of a disconnect there is between how we actually feel our actions and the sentiment of the tweet. All I can do"
X Link @armaniferrante 2025-10-11T21:40Z 150K followers, 854K engagements

"One of the most powerful features of @Backpack wallet is it's wallet account structure particularly popular among whales with many wallets looking to stay private and organized. While most wallets provide a single linear wallet list Backpack provides a second dimension for identity organization. Segregate your wallet groups with distinct accounts so that you can group related addresses together with ease. And if you are one of those people with XXX wallets use the search to find your addresses without scrolling forever"
X Link @armaniferrante 2025-06-26T02:55Z 149.8K followers, 17.7K engagements

"@daidaibtc @Backpack_CN This tweet was fucking retarded"
X Link @armaniferrante 2025-10-11T15:07Z 150K followers, 13.9K engagements

"In short users never owe more margin than they put into a position. There was no socialized loss. No clawbacks. A lot of liquidations. A lot of ADL. That's the boring truth"
X Link @armaniferrante 2025-10-12T04:36Z 150K followers, 74.6K engagements

"On the one hand I agree. On the other hand this happened on literally every exchange. People saying this is a Backpack specific issue are not sincere or they just dont know what theyre talking about. Someone tweeted this on Binance for example. In any case I agree these things should absolutely improve. But bankruptcy is a valid stage transition which is why one must always design with that in mind. Thats why insurance funds exist"
X Link @armaniferrante 2025-10-12T00:30Z 149.8K followers, 2759 engagements

"Is KFC a publicly traded company"
X Link @armaniferrante 2025-10-15T14:59Z 150K followers, 74.1K engagements

"@Backpack Sei"
X Link @armaniferrante 2025-07-22T13:24Z 149.8K followers, 13.1K engagements

"Huge market movement today. Markets look wiped out across the board. Many issues on many venues. Things are recovering and markets are starting to get back on their feet. We're all hands on deck monitoring the situation. To state the obvious funds are safe. Thanks all"
X Link @armaniferrante 2025-10-10T23:25Z 149.8K followers, 27.8K engagements