Former US President of FTX, Brett Harrison, has launched his new cryptocurrency startup, Architect, on Twitter.
Architect raised $5m in funding round.
Harrison, who was President of FTX US For some time, yesterday announced the launch of Architect and the end of the seed round in a Twitter thread.
The firm has already raised $5m in seed funding from high-profile investors.
“The architect will develop institutional-grade trading technology that will streamline the cryptomarket structure, making it easier and safer for firms and large traders to access decentralized protocols and centralized exchanges.”
Participating investors include Motivate Venture Capital, SALT Fund, SV Angel, P2P Validator, Third King Venture Capital, Shari Glazer, and Anthony Scaramucci, founder of Skybridge Capital. Circle Ventures and Coinbase Ventures also invested in the new crypto startup.
A strained relationship with the co-founders led to FTX’s departure from US.
Harrison’s departure from FTX in September 2022 followed a strained relationship with co-founder Sam Bankman-Fried (SBF) and his subordinates. Before his departure, he said his relationship with the SBF had “reached a point of complete breakdown.”
Earlier this month, former president of FTX US came forward With the truth of his time working with company CEO Sam Bankman Freud. In a lengthy Twitter thread, Harrison detailed the sequence of events that led to his decision to quit his “dream job” after just 17 months.
According to Harrison, several issues led to his departure. During his time at FTX, he was also threatened by the SBF.
Relations between FTX’s former US president and Sam Bankman-Fried soured over time due to disagreements over the company’s management practices.
Despite the prestige and benefits of working at FTX US, Harrison eventually felt so strongly about starting his own business that he could not continue in his position.
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