Ex-president of FTX US Reportedly Looking for $6 Million to Launch Cryptocurrency Startup

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Last Updated on December 3, 2022 by Bitfinsider

The former senior executive of FTX US is reportedly looking for investors to fund the launch of a cryptocurrency startup just one month after the contentious collapse of Sam Bankman-Fried’s FTX exchange and 130 related companies.

According to sources, Brett Harrison, the former president of FTX US, is seeking $6 million in capital to establish a start-up that would create cryptocurrency trading software for large investors. A $60 million value would be used for Harrison’s investment round.

Harrison made the decision to leave his position as president of FTX US and transition into an advising role on September 27. This was more than a month before the notorious collapse of FTX. As a result, the businessman was not immediately charged with having a direct hand in the theft of users’ money.

Harrison stated that he was “surprised and saddened” by what SBF and his cronies were able to accomplish through deception following the FTX crash, though. After FTX crashed, a hacker was able to access some of the exchange’s cash and has since been actively attempting to steal the money.

Most recently, the FTX hacker was discovered utilizing a Bitcoin mixer to send a chunk of stolen money to OKX.

One of the 134 businesses involved in FTX’s bankruptcy procedures is FTX Japan, but it has been working on a strategy to restore customer monies.

As required by Japanese law, FTX Japan confirmed on December 1 that the user assets were separate from the exchange’s assets.

FTX Japan states that re-enabling withdrawals is currently its main priority and that it plans to do this by the end of 2022.

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