• Former FTX.US president Brett Harrison has raised $5 million in a seed round for his new venture Architect.
• Investors include Coinbase Ventures, Circle Ventures, SV Angel 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 successfully raised $5 million in a seed round to fund his new crypto venture Architect. The project has managed to draw in some of the top venture investors within the crypto space, including Coinbase Ventures, Circle Ventures, SALT Fund, Third King Venture Capital, Motivate Venture Capital and SV Angel. SkyBridge Capital’s Antony Scaramucci has also invested in the new crypto software project.
Architect is a decentralized finance (DeFi) venture which has been in stealth development since last September. The platform is building trading software that aims at streamlining the crypto markets for institutional investors. According to Harrison, Architect will make the process of trading cryptocurrencies, tokens and other digital assets easier and more intuitive for those who want to enter the crypto market.
The project will also feature a new liquidity-matching protocol that will allow traders to find the best prices for their trades across multiple exchanges. This will allow traders to exploit arbitrage opportunities and reduce the spreads on their trades. Additionally, the platform will provide users with a real-time overview of their trading activity and portfolio performance.
The seed funding will be put towards further developing the platform and making it available to the public. With the new influx of capital, Architect will be able to grow their team and focus on building out their product and marketing strategy.
Brett Harrison is confident that his new venture will help drive the adoption of cryptocurrencies and make digital assets more accessible to institutional investors. He believes that the project will help to close the gap between traditional finance and cryptocurrency and create a more efficient and secure trading environment.
He also believes that Architect will be able to provide users with a suite of tools that will make trading digital assets more intuitive and user-friendly. The platform will provide users with real-time analytics and portfolio management features that will help them make better decisions.
With the $5 million seed round, Architect is well-positioned to become a major player in the cryptocurrency markets. It remains to be seen how the platform will fare in an increasingly competitive environment, but with the backing of some of the top venture investors in the crypto space, it looks like Architect is off to a great start.