Former President of FTX US Raises $5 Million for New Cryptocurrency Firm – Coinpedia Fintech News

Don’t have your own account? click below link to register

Former FTX US President Brett Harrison has raised $5 million for a new cryptocurrency firm from Coinbase Ventures and Circle Ventures. In light of his close relationship with Sam Bankman-Fried and his troubled cryptocurrency exchange, the former CEO is striving to carve his next steps with his new firm–Architect. 
“It’s a software company aiming to build institutional-grade infrastructure to connect various crypto venues across decentralized and centralized exchanges. We’re trying to make it easy to interface with either qualified custodians or self-custody. We’re building this single interoperability platform across crypto services with a focus on trading,” Harrison told TechCrunch. 
1/ I’m very happy to announce the founding of @Architect_xyz and the closing of our $5m seed round!
Coinbase Ventures, Circle Ventures, SV Angel, SALT Fund, P2P, Third King Venture Capital, and Motivate Venture Capital have all contributed money to the startup’s pre-product fundraising round. It also has angel investors Kalos Labs CEO Shari Glazer and Skybridge founder and former White House communications director Anthony Scaramucci.
Harrison’s new project and fresh cash round come after the former president of FTX US announced his departure from the company and his relationship with co-founder SBF. He had earlier said that his relationship with SBF  “had reached a point of total deterioration.”
He continued that it was challenging for Architect to raise funding because of the collapse of FTX. Harrison, though, thinks that his long-standing relationships with his investors helped the initiative get its initial finance.
Harrison said in a tweet, “I’m grateful to our partners, who’ve shown me that they believe above all in the resiliency of this industry. Architect is fortunate to draw upon their wide-ranging expertise, which spans all areas of the digital asset landscape as well as traditional finance and trading.”
Um, not sure “getting the gang back together” from a failed criminal enterprise is going to inspire a lot of confidence
Even then, several people on Twitter quickly expressed worries about Harrison’s past, recalling his previous position at FTX US, even if Architect may be looking toward the future of Web3.

Advertisement ×
Advertisement ×
📈 Are you Holding #Solana? What do you think, Solana is still powerful? 🔹 Solana Labs lost almost $700 mn in value…


Image - ThumbHow To Make Huge Profits In A Short Time With Crypto
Get detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.
Image - ThumbCrypto + NFT Quick Start Course
The #1 course for profit in the Crypto & NFT world - You will discover the secrets that 99% of people don’t know yet

About the Author: admin

You might like

Leave a Reply

Your email address will not be published. Required fields are marked *