Former FTX President Is Launching a New Trading Platform
Former FTX US President Brett Harrison is launching AX, a regulated exchange for perpetual contracts on traditional assets.Summary
Brett Harrison, the former President of FTX US, is launching a new trading platform called AX through his firm, Architect. AX is designed to be the world's first centralized and regulated exchange offering perpetual futures contracts on traditional assets like stocks, foreign exchange, ETFs, and indices, applying the capital efficiency model of crypto perpetuals to these traditional markets.
Harrison stated that AX combines the efficiency of crypto perps with the security and regulatory oversight of traditional exchanges, incorporating features like volatility halts and default waterfalls. Architect has secured $17 million in Series A funding, with participation from Coinbase Ventures, Circle Ventures, and SALT Fund, signaling strong investor confidence.
Architect has also obtained a license from the Bermuda Monetary Authority to operate AX as a compliant venue. Harrison previously left FTX US in September 2022 before its collapse and has a background in traditional finance, having held senior roles at Citadel Securities and Jane Street.
(Source：BeInCrypto)