• Former FTX.US president Brett Harrison has announced his new venture Architect has raised $5 million in a seed round funding.
• Backers 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 streamline the crypto markets.
Brett Harrison, the former president of FTX.US, has recently announced the successful completion of a $5 million seed round for his new project, Architect. The round of funding was backed by some of the top venture investors within the crypto space, including Coinbase Ventures, Circle Ventures, SV Angel, SALT Fund, Third King Venture Capital, Motivate Venture Capital, and SkyBridge Capital’s Antony Scaramucci.
Architect is a decentralized finance (DeFi) venture that has been in stealth development since September of last year. The project is centered around creating institutional-grade trading technology to make the crypto market more efficient. According to Harrison, Architect is developing the software to make digital asset trading easier and more accessible to a wide range of investors.
The new technology is designed to make the trading process simpler, faster, and more secure. Architect is also planning to build a suite of products that will enable investors to access better liquidity and trade execution. This will also provide an enhanced user experience for users, as the system will be able to provide real-time market data, insights, and analytics.
In addition to building software, Architect is also working on launching a crypto-backed liquidity pool. This will enable traders to deposit their digital assets and have them used as collateral for trading. This will allow traders to take advantage of leverage and margin trading, while also providing liquidity to the market.
Brett Harrison has expressed his excitement for the new venture, stating that it is a “significant milestone” for Architect. He believes that the project will be a major step forward in the evolution of the crypto space and that it will drive the growth of the industry.
By raising the funds, Architect is now one step closer to achieving its goal of creating institutional-grade trading technology that will help make the crypto markets more efficient and accessible. With the help of the investors, the company is now well-positioned to launch its new products and services and to further expand its capabilities.
It will be interesting to see how the project develops over the coming months and how it will help shape the future of the crypto markets. With the backing of some of the most influential investors in the space, Architect is certainly in a strong position to make a significant impact.