Ex-President of FTX U.S Seeking $6 Million to Launch New Firm

Ex-President of FTX U.S Seeking $6 Million to Launch New Firm
  • Harrison stated on September 27 that he would be stepping down as president of FTX US.
  • This comes a mere month after the very contentious collapse of the FTX exchange.

Former FTX US president Brett Harrison is now trying to raise money for a new cryptocurrency firm. The report states that he is attempting to raise $6 million while valuing the firm at $60 million. The company’s stated goal is to develop cryptocurrency trading software for institutional investors. This comes a mere month after the very contentious collapse of Sam Bankman-Fried’s FTX exchange and its 130 associated enterprises. 

More than a month before the historic collapse of FTX. Harrison stated on September 27 that he would be stepping down as president of FTX US and transitioning into an advising position. Because of this, Harrison wasn’t instantly blamed for the users’ money going missing.

FTX Japan Striving to Repay Users

But following the FTX catastrophe. Harrison also said he was “surprised and saddened” by what SBF and his collaborators had accomplished dishonestly. In the wake of the FTX catastrophe, a hacker gained access to some of the exchange’s money and has been attempting to withdraw them ever since.

The FTX hacker was recently uncovered utilizing a crypto mixer to move stolen cash from FTX to OKX. One of the 134 firms affected by the bankruptcy of FTX is FTX Japan. Which has been working on a strategy to repay customers.

On December 1st, FTX Japan affirmed, as required by Japanese law, that user assets were kept in a separate account from the exchange’s own. Restoring withdrawals is allegedly a top priority for FTX Japan right now, and they want to get that done before the year’s end.

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A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.