Former FTX US President Looking To Raise $6M

banner-image

Reports indicate that Brett Harrison, the former president of FTX US, plans to launch a start-up company with the intention of developing trading software for cryptocurrencies targeted toward major investors. 

After the dramatic fall of Sam Bankman-FTX Fried’s exchange and 130 connected firms, it has been claimed that a former senior executive is searching for investors to back the establishment of a cryptocurrency business.

According to The Information, former FTX US president Brett Harrison is trying to raise $6 million to launch the new business that will provide crypto trading software for institutional investors. For achieving the objectives of Harrison’s investment round, a valuation of sixty million dollars would be employed.

On September 27th, Harrison decided to step down as president of FTX US and take on a new job of an advisory position. This was over a month ahead of the infamous FTX crash. Because of the same, the businessman was not instantly accused of being directly involved in the fraud of users’ money. 

However, after the FTX catastrophe, Harrison expressed similar shock and dismay at what SBF and his associates had accomplished through trickery. 

Notably, after the FTX disaster, a hacker gained access to the exchange’s cash and has been trying to steal it ever since. The hacker was recently uncovered sending a portion of the stolen funds to OKX via a Bitcoin mixer.

FTX Japan To Open Withdrawals

The Japanese subsidiary of the defunct crypto exchange, like many of the other 134 companies involved in FTX’s bankruptcy proceedings, is devising a plan to repay its customers.

On December 1st, FTX Japan affirmed, under Japanese legislation, that the user assets were kept in a separate account from the exchange’s own. According to the exchange, restoring withdrawal functionality is a top priority, and the company expects to have this problem solved before the year’s end.

June 22, 2024

Top US Rapper 50 Cent has seen a major exploit of..

June 22, 2024

Bitcoin's blockchain bandwidth usage has surged past 90% following the recent..

June 22, 2024

Bitwise CIO is bullish on the future prospects of Ethereum (ETH)..

ads-image ads-image