FTX US ex-president reportedly seeks $6M funding to launch crypto startup

Deal Score0
Deal Score0

Only a month after the controversial fall of Sam Bankman-Fried’s FTX trade and 130 affiliated corporations, a former high-ranking government is reportedly searching for out buyers to launch a crypto startup.

The ex-president of FTX US, Brett Harrison, is looking out for $6 million in funding to launch a start-up that will construct crypto buying and selling software program for large buyers, according to The Info. Harrison’s funding spherical can be towards a $60 million valuation.

On Sept. 27, Harrison introduced his plans to step down as the president of FTX US as he moved into an advisory position — over a month earlier than the notorious fall of FTX. In consequence, the entrepreneur was not instantly accused of getting direct involvement in misappropriating customers’ funds.

Nonetheless, after the FTX crash, Harrison, too, claimed to be “stunned and saddened” by what SBF and his accomplices had been in a position to obtain via deception. Following FTX’s crash, a hacker managed to achieve entry to part of the the exhange’s funds and has been actively making an attempt to syphon the stolen funds.

Most not too long ago, the FTX hacker was found transfering a portion of stolen funds to OKX after utilizing Bitcoin (BTC) mixer.

Associated: FTX Japan drafts plan to return client funds

FTX Japan, considered one of 134 corporations caught up in FTX’s chapter proceedings however has been drafting a plan to return consumer funds.

On Dec. 1, FTX Japan confirmed that the consumer property had been seperate from the trade’s property, as mandated by Japanese laws.

At the moment, FTX Japan claims its main focus is to re-enable withdrawals and is reportedly aiming to do so by the end of 2022.