Former FTX US President Brett Harrison launched his new cryptocurrency company, Architect, on Twitter.
Architect raises $5 million in funding round
Harrison, who was president of FTX US for a while, announced in a Twitter thread yesterday the launch of Architect and the closing of the seed round.
The firm has already raised $5 million in seed funding from high-profile investors.
Harrison explained:
“Architect will create institutional-grade trading technology that streamlines the structure of the crypto market, making it easier and more secure for enterprises and large merchants to access decentralized protocols and centralized exchanges alike.”
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 crypto startup.
Strained relationship with co-founder led to departure from FTX US
Harrison’s departure from FTX in September 2022 came after a strained relationship with co-founder Sam Bankman-Fried (SBF) and his subordinates. Before leaving, he said that his relationship with SBF “had reached a point of total deterioration.”
Earlier this month, the former president of FTX US revealed the truth about his time working with the company’s CEO, Sam Bankman-Fried. In a lengthy Twitter thread, Harrison detailed the sequence of events that led to his decision to leave his “dream job” after just 17 months.
According to Harrison, various problems led to his departure. During his time at FTX, he was even threatened on behalf of SBF.
The relationship between the former president of FTX USA and Sam Bankman-Fried had deteriorated over time due to disagreements over the company’s management methods.
Despite the prestige and benefits of working at FTX US, Harrison eventually became so convinced to start his own business that he was unable to continue in his position.
