- Brett Harrison, FTX US’s former president is reportedly raising money to fund a new cryptocurrency startup.
- Harrison left FTX just weeks after it filed for bankruptcy due to allegations of misusing customer funds.
- Harrison’s attempt at raising money comes as many investors become weary of getting deeper into the crypto market.
According to reports, a former high-ranking FTX executive wants to leave his employer’s implosion.
According to a report by a, Brett Harrison (presidence of FTX) is in talks for investors to create a new crypto trading software startup. ReportThe Information, which cited 2 people with direct knowledge.
The Information reports that a former FTX executive is seeking investors for $6 million in order to raise $60 million.
Harrison resigned his role at FTXUS in September, just a few days before the elections. Company goes bankrupt. Insiders from companies like Caroline Ellison, Alameda Research CEO Caroline Ellison and Sam Bankman-Fried, former CEO of FTX Face allegations they improperly used customer funds.
According to the report Harrison worked for traditional trading firms before joining FTX. He also worked at Jane Street, where he was once a Bankman-Fried employee.
Harrison did not immediately respond to Insider’s request to comment on his crypto venture. He resigned on November 8th, amid the collapse of FTX. TweetThe news shocked and saddened him.
The collapse of FTX sent shockwaves through cryptocurrency and has harmed other crypto exchanges. For instance, FTX has declared bankruptcy since early November. Gemini paused customer withdrawals, and BlockFi was filed for bankruptcy.
Harrison’s attempt at raising money for a cryptocurrency startup comes as prominent investors become weary of getting deeper into the sector. According to Crunchbase data, crypto startups raised $5.1 trillion less in the third quarter than the first quarter. This was according to The Information.
