Backpack, a cryptocurrency exchange, received criticism after its social media team in China said they would offer free KFC meals to users who lost money during a recent, sudden market drop in October.
On October 11th, Backpack announced they would reimburse traders who lost money due to liquidations caused by the recent market downturn. The announcement, which has since been removed, stated that keeping users’ trust was the exchange’s main concern.
The announcement also stated that KFC vouchers worth 200 meals would be given to users who experienced the biggest financial losses, and they could claim them using an official form. The exchange explained they wanted to offer some comfort to the community during this challenging time.
Crypto exchange founder condemns post offering KFC
Armani Ferrante, the founder of Backpack, strongly criticized a recent post from a local account, describing it as ridiculous and inappropriate. He explained that Backpack allows different local teams to manage their own social media, and this particular KFC giveaway wasn’t approved by Backpack’s main leadership.
Ferrante said she disliked the tweet, admitting it was almost funny, but ultimately serious. She explained that it had quickly spread online and become very popular.
Wow, the last few days have been absolutely wild! It’s been a total rollercoaster, with some crazy stuff happening, and honestly, some things were probably bound to happen eventually. Let me tell you what I’ve been seeing as a fan… First off, when the market took that huge dive during the biggest sell-off we’ve *ever* seen, a lot of people ended up losing their positions. It was rough, and it really hurt a lot of folks. The…
— Armani Ferrante (@armaniferrante) October 13, 2025
Even though the company tried to separate itself from the original post, it quickly spread across social media. The community manager for Mad Lads, Backpack’s NFT project, then shared a meme hinting at a possible partnership with KFC, which made the online conversation even more active.
Starting October 18th in Australia, KFC is introducing a vending machine that will dispense free chicken, fries, and other tasty treats to customers.
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2025-10-13 22:48