• Former FTX.US president Brett Harrison has raised $5 million in a seed round funding for his new crypto project for institutional investors.
• Investors who backed the project include Coinbase Ventures, Circle Ventures, SV Angel, SALT Fund, Third King Venture Capital, Motivate Venture Capital and SkyBridge Capital’s Antony Scaramucci.
• Architect is building new institutional-grade trading technology to make the crypto markets more streamlined.
Brett Harrison, the former FTX.US president, has raised $5 million in a seed round funding for his new crypto project for institutional investors. The new platform is a decentralized finance (DeFi) venture dubbed Architect, which has been in stealth development since last September. An announcement Harrison released on Friday stated that Architect had secured the $5 million investment from some of the top venture investors within the crypto space, including Coinbase Ventures and Circle Ventures. Other investors to back the former FTX.US president’s startup Architect are SALT Fund, Third King Venture Capital, Motivate Venture Capital and SV Angel. SkyBridge Capital’s Antony Scaramucci has also invested in the new crypto software project.
Architect is a decentralized finance (DeFi) venture with the aim to build trading software that will streamline the crypto markets. The platform is expected to provide a suite of tools to make it easier for institutional investors to trade digital assets. This includes features such as automated market makers, automated asset management, order routing, and algorithmic trading.
The platform will be built on the Ethereum blockchain, and it will be open source. This means that developers will be able to use the code to create their own applications and services on the platform. Architect will also be able to integrate with other DeFi protocols, providing users with greater access to financial services.
The team behind Architect consists of experienced trading professionals from the Wall Street and Silicon Valley. With their combined experience and knowledge, the team is confident that they can build a comprehensive platform that is secure, reliable and efficient.
In addition to the seed funding, Architect has also partnered with major crypto exchanges such as FTX.US and OKEx. These partnerships will allow users to access the platform with ease and trade digital assets more efficiently.
With the funds raised, Architect hopes to continue to develop its platform and launch more features to make it easier for institutional investors to trade digital assets. This includes the development of tools such as automated market makers, order routing, and algorithmic trading.
The team is confident that the platform will provide institutional investors with the tools and features they need to make better trading decisions and increase their profits. As the crypto space continues to grow, Architect is well positioned to become a leader in the DeFi space.