[Insider: Backpack in Talks for Funding at $1 Billion Valuation] According to Axios, citing insiders, the centralized crypto exchange Backpack Exchange, founded by former FTX and Alameda executives, is negotiating terms for a new round of funding at a $1 billion pre-money valuation. Specifically, Backpack is planning to raise $50 million, though the final size of this funding round could be larger.