# Backpack review: Trust Score 67/100 (Solid)

Source page: https://vaultx.llc/reviews/backpack · independent VaultX review by Rex · updated 2026-10-30

Real product and licences, but post-launch insider-selling claims and airdrop anger linger

BP is the native token of the Backpack exchange and wallet, launched on Solana on 23 March 2026 with 25% of its 1 billion supply airdropped and, per CoinDesk, no insider allocation at launch. The company has a named CEO, Armani Ferrante, reports EU licences, and has shipped tokenized-stock trading that outlets describe as market-leading by volume. Against that, the price fell more than 60% soon after launch, which prompted insider-selling allegations that the CEO and company deny. Users also complained about the airdrop, and some of the 'no insider deals' claims rest on company statements alone. We found no regulator warning, lawsuit or enforcement action in the notes.



**Sources**
- learn.backpack.exchange https://learn.backpack.exchange/blog/backpack-token-bp-launch[8
- learn.backpack.exchange https://learn.backpack.exchange/articles/backpack-tge[4
- learn.backpack.exchange https://learn.backpack.exchange/blog/backpack-token-ticker-bp[5
- support.backpack.exchange https://support.backpack.exchange/exchange/programs/backpack-participant-program/bp-program-faq[13
- learn.backpack.exchange https://learn.backpack.exchange/articles/backpack-tokenomics[7
- rootdata.com https://www.rootdata.com/projects/detail/Backpack?k=MTAwOTU=[1

Not financial advice. Nobody can pay for a VaultX review.

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