Crypto trading platform Backpack announced the appointment of Mark Wetjen, former Commissioner and Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC), as President of Backpack US. Wetjen previously served as Head of Global Public Policy at the Depository Trust & Clearing Corporation (DTCC) and was an early advocate for establishing a clear regulatory framework and market infrastructure for the crypto industry. Backpack stated that Wetjen will lead the company's expansion in the United States, focusing on compliant product development, regulatory cooperation, and market expansion to build a compliant on-chain financial infrastructure connecting the crypto market with the traditional financial system.