FTX US ex-president reportedly seeks $6M funding to launch crypto startup


Only a month after the controversial fall of Sam Bankman-Fried’s FTX alternate and 130 affiliated corporations, a former high-ranking government is reportedly in search of out traders to launch a crypto startup.

The ex-president of FTX US, Brett Harrison, is looking out for $6 million in funding to launch a start-up that might construct crypto buying and selling software program for giant traders, in keeping with The Info. Harrison’s funding spherical could be towards a $60 million valuation.

On Sept. 27, Harrison introduced his plans to step down because the president of FTX US as he moved into an advisory function — over a month earlier than the notorious fall of FTX. In consequence, the entrepreneur was not instantly accused of getting direct involvement in misappropriating customers’ funds.

Like most right here, I used to be stunned and saddened by immediately’s information. I very a lot hope for an consequence that mitigates the affect on all these affected, and I’m grateful to everybody who’s stepping up and persevering with to construct a stronger trade for us all.

— Brett Harrison (@BrettHarrison88) November 8, 2022

Nonetheless, after the FTX crash, Harrison, too, claimed to be “stunned and saddened” by what SBF and his accomplices have been capable of obtain by means of deception. Following FTX’s crash, a hacker managed to achieve entry to part of the the exhange’s funds and has been actively making an attempt to syphon the stolen funds.

Most just lately, the FTX hacker was discovered transfering a portion of stolen funds to OKX after utilizing Bitcoin (BTC) mixer.

Associated: FTX Japan drafts plan to return shopper funds

FTX Japan, considered one of 134 corporations caught up in FTX’s chapter proceedings however has been drafting a plan to return shopper funds.

On Dec. 1, FTX Japan confirmed that the consumer belongings have been seperate from the alternate’s belongings, as mandated by Japanese rules.

Presently, FTX Japan claims its major focus is to re-enable withdrawals and is reportedly aiming to take action by the tip of 2022.


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