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FTX's US ex-president is reportedly seeking $6 million in funding to launch a crypto startup

Published on

February 2, 2023
Read Time:1 Minute, 39 Second

Only a month after the controversial fall of Sam Bankman-Fried's FTX alternate and 130 associates, a former senior government is reportedly looking for traders to launch a crypto startup.

FTX US Ex-President Brett Harrison is looking for $6 million in funding to launch a startup that might develop crypto buying and selling software program for big traders. according to to the data. Harrison's spherical of funding would run towards a valuation of $60 million.

On September 27, Harrison introduced his plans to step down as President of FTX US when he moved into an advisory position -- over a month earlier than FTX's notorious fall. Because of this, the entrepreneur was not instantly accused of being instantly concerned in embezzling consumer funds.

Like most right here, I used to be stunned and saddened by as we speak's information. I actually hope for an consequence that mitigates the influence on everybody affected and I'm grateful to everybody who's dedicated and continues to construct a stronger trade for us all.

— Brett Harrison (@BrettHarrison88) November 8, 2022

Nonetheless, after the FTX crash, Harrison additionally expressed "stunned and saddened" by what SBF and his accomplices had been capable of obtain by way of deception. After the FTX crash, a hacker managed to achieve entry to a number of the alternate's funds and actively tried to siphon off the stolen funds.

Just lately, it was found that the FTX hacker transferred a number of the stolen funds to OKX after utilizing the Bitcoin (BTC) mixer.

Associated: FTX Japan is drafting a plan to return consumer funds

Nonetheless, FTX Japan, one in all 134 corporations implicated in FTX's chapter proceedings, has drawn up a plan to return consumer funds.

On December 1, FTX Japan confirmed that consumer belongings are segregated from the alternate's belongings, as required by Japanese laws.

At present, FTX Japan claims its main focus is to permit withdrawals once more and is reportedly aiming to take action by the tip of 2022.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : February 2, 2023
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