Barely a month after the controversial crash of Sam Bankman-Fried’s FTX exchange and 130 affiliated companies, a former high-ranking executive is looking for investors to launch a cryptocurrency startup.
Former FTX US President Brett Harrison is seeking $6 million in funding to launch a startup that would build cryptocurrency trading software for large investors, according to The Information. Harrison’s funding round would be valued at $60 million.
On September 27, Harrison announced his plans to relinquish the presidency of FTX US to move into an advisory role, more than a month before FTX’s infamous crash. As a result, the businessman was not immediately accused of having a direct involvement in the misappropriation of user funds.
Like most here, I was surprised and saddened by today’s news. I very much hope for an outcome that mitigates the impact on all those affected, and I’m grateful to everyone who is stepping up and continuing to build a stronger industry for us all.
—Brett Harrison (@BrettHarrison88) November 8, 2022
Like most of those present, today’s news has surprised and saddened me. I truly hope for an outcome that mitigates the impact on everyone affected, and I thank everyone who is stepping up and continuing to build a stronger industry for all of us.
Nevertheless, Following the fall of FTX, Harrison also claimed to be “shocked and saddened” by what SBF and its accomplices were able to achieve through deception. Following the FTX collapse, a hacker gained access to a portion of the exchange funds and has actively attempted to divert the stolen funds.
Recently, it was discovered that FTX hacker was transferring a portion of the stolen funds to OKX after using a bitcoin (BTC) mixer.
FTX Japanone of 134 companies caught up in FTX’s bankruptcy proceedings, has been drawing up a plan to return customer funds.
On December 1, FTX Japan confirmed that user assets were separate from exchange assetsas required by Japanese regulations.
Currently, FTX Japan claims that its main objective is to allow withdrawals again and, apparently, it intends to do so by the end of 2022.
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