Former FTX US president raises $35 million for traditional-asset perpetuals exchange: The Information
Former FTX US president Brett Harrison raised $35 million for his startup Architect Financial Technologies to build a regulated exchange for traditional-asset perpetual futures.Summary
Brett Harrison, the former president of FTX US, has secured $35 million in funding for his startup, Architect Financial Technologies. The funding round, led by Miami International Holdings and Tioga Capital, values Architect at approximately $187 million. Architect is developing AX, a regulated global perpetual futures exchange designed to apply crypto-market design principles to derivatives linked to traditional financial assets like equities and foreign exchange, explicitly excluding digital assets. Harrison, who left FTX US in 2022 before its collapse, aims to adapt the efficiency of crypto market infrastructure for regulated global finance. The development comes as interest in real-world-asset perpetuals grows, seen by firms like Coinbase Ventures as a key area for hedging and expressing views on traditional markets.
(Source：The Block)