CEX vs. DEX in 2025: The future of trading feat. Armani Ferrante (Backpack)
02/13/25 • 38 min
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.
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.
Previous Episode
Wearables and AI: The future of health data (feat. CUDIS)
Wearable technology is evolving, and blockchain is playing a key role in reshaping how health data is owned and used. In this episode of Hashing It Out, host Elisha Owusu Akyaw speaks with Edison Chen, CEO of CUDIS, about the intersection of wearables, Web3 and AI.
They dive into everything data privacy, blockchain’s role in securing health information and the future of user-controlled data in a decentralized world.
(00:00) – Introduction
(01:00) – Meet Edison Chen
(03:00) – The wearables market
(05:00) – Why CUDIS?
(07:30) – Data ownership and privacy
(10:00) – Security and AI
(13:00) – Crypto incentives for wellness
(16:00) – Solana vs. other blockchains
(19:30) – Web3, AI and the future of wearables
(22:30) – Final thoughts and what’s next
This episode of Hashing It Out is brought to you by Cointelegraph and hosted by Elisha Owusu
Akyaw, produced by Savannah Fortis, 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.
Next Episode
DeFi’s Missing Link: Fixed Income (feat. Treehouse)
The global fixed-income market is massive, yet it’s nearly absent in crypto. In this episode of Hashing It Out, Elisha Owusu Akyaw sits down with Treehouse CEO Brandon Goh to explore how DeFi can integrate fixed-income products, why benchmarks matter and what’s next for institutional adoption. They dive into risk management, yield generation and the future of decentralized finance.
(00:03) – The fixed-income gap in DeFi
(01:15) – Brandon Goh’s journey to Web3
(02:53) – Why fixed income matters in crypto
(05:43) – DeFi’s missing infrastructure
(07:39) – Treehouse: a new DeFi primitive
(09:58) – Risks in yield-generating products
(14:46) – Decentralized offered rates (DOR)
(18:29) – Treehouse’s growth to $340M TVL
(21:20) – Choosing the right blockchain for DeFi expansion
(25:38) – The future of DeFi and institutional adoption
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.
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