Former FTX US President Brett Harrison launched his new cryptocurrency startup Architect on Twitter.
Architect Raises $5 Million in Funding Round
Harrison, who has been president of FTX US for some time, announced the launch of Architect and the closing of the seed round in a Twitter thread yesterday.
The company has already raised $5 million in seed funding from prominent investors.
“Architects will build institutional-level trading technology that will streamline the crypto market structure, making it easier and safer for businesses and large traders alike 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 have also invested in the new cryptocurrency startup.
Strained relationship with co-founder led to departure from FTX US
Harrison left FTX in September 2022 after a strained relationship with co-founder Sam Bankman-Fried (SBF) and his subordinates. Before departing, he said his relationship with SBF had “completely deteriorated.”
Earlier this month, the former president of FTX US revealed the truth when he worked with the company’s CEO, Sam Bankman-Fried. In his lengthy Twitter thread, Harrison detailed the chain of events that led him to decide to quit his “dream job” after just 17 months.
According to Harrison, several issues led to his resignation.While at FTX, he was even threatened on behalf of SBF.
Relations between the former FTX US president and Sam Bankman-Fried had deteriorated over time due to disagreements over how to run the company.
Despite the prestige and benefits of working at FTX US, Harrison felt so strongly about finally starting his own business that he was unable to continue in his position.