Former FTX US President Brett Harrison has raised $5 million for his new cryptocurrency startup. Given his tight association with Sam Bankman-Fried and his failing bitcoin exchange, the former CEO is working hard to lay out his next steps with his new business, Architect.
The vast list of contributers to the startup’s pre-product funding round includes Coinbase Ventures, Circle Ventures, SV Angel, SALT Fund, P2P, Third King Venture Capital, and Motivate Venture Capital. On top of that, Skybridge founder and former White House communications director Anthony Scaramucci and Kalos Labs CEO Shari Glazer have joined in as angel investors.
Harrison’s new initiative and new funding round came after the former president of FTX US announced his resignation from the firm and his connection with co-founder Sam Bankman-Fried. He previously stated that his relationship with Bankman-Fried “had reached a point of utter degradation.”
He went on to explain that it was difficult for Architect for raise funds after the downfall of FTX. However, Brett Harrison believes his long-standing relationship with investors has helped his new project gather its initial finance.
Even then, numerous individuals on Twitter voiced concern over Harrison’s background, citing his prior role at FTX US, even if Architect may be looking to the future of Web3.
If You Liked This, You May Also Enjoy – The MetaVerse: Future & Potential Benefits
Amit Khanna, 7startup Founder
Amit has 18 years of experience in the industry and an MBA. He supports entrepreneurs with every aspect of their business including concept and product development, investor presentations, and fundraising. Amit & 7startup assist startups in the pre due-diligence process and help connect them to our vast network of investors. Reach out to us today and see if we’re a fit!
