• Former FTX US President Brett Harrison has raised $5 million for a new cryptocurrency firm from Coinbase Ventures and Circle Ventures.
• Architect is a software company aiming to build institutional-grade infrastructure to connect various crypto venues across decentralized and centralized exchanges.
• The startup’s pre-product fundraising round was backed by Coinbase Ventures, Circle Ventures, SV Angel, SALT Fund, P2P, Third King Venture Capital, and Motivate Venture Capital, along with angel investors Kalos Labs CEO Shari Glazer and Skybridge founder and former White House communications director Anthony Scaramucci.

Brett Harrison, the former President of FTX US, has just raised $5 million for his new cryptocurrency firm, Architect. Harrison had announced his departure from the previous company in the wake of a troubled relationship with co-founder Sam Bankman-Fried. He has now set out to carve his next steps with his new venture, which he described as a “software company aiming to build institutional-grade infrastructure to connect various crypto venues across decentralized and centralized exchanges.”

The idea behind Architect is to make it easier to interface with either qualified custodians or self-custody. The company is focused on building a single interoperability platform across crypto services with a focus on trading. To fund the project, the pre-product fundraising round was backed by Coinbase Ventures, Circle Ventures, SV Angel, SALT Fund, P2P, Third King Venture Capital, and Motivate Venture Capital. The project also has several angel investors, including Kalos Labs CEO Shari Glazer and Skybridge founder and former White House communications director Anthony Scaramucci.

Harrison discussed the challenges of raising funding, given the collapse of FTX, but expressed optimism that the project was able to raise the necessary funds to get off the ground. The former president believes that the project will help make it easier for the average person to get involved in cryptocurrency trading. He said, “We want to make it easier for anyone to get involved with the cryptocurrency market, whether they’re a novice or an experienced trader. We’re going to be building tools that make it easier for people to understand and navigate the cryptocurrency market, and we’re going to be providing resources to help people make informed decisions.”

Harrison believes that the project will help to make the cryptocurrency market more accessible to the average person. He concluded, “We want to make sure that everyone has access to the benefits of the cryptocurrency market. We believe that our project will enable more people to participate in the market, and we’re excited to be part of the future of the cryptocurrency industry.”