Former FTX US Head Brett Harrison Seeks To Raise Fund For Crypto Startup
According to The Information, former FTX US president Brett Harrison is attempting to seek funds for a crypto trading software firm from significant investors.
Brett Harrison, who left the companies only about five weeks before the exchange’s public problems began, was one of FTX US’s more public-facing executives during his tenure.
While the fresh fundraising efforts were not previously revealed, Harrison did post a couple of Twitter threads in October regarding the challenges of crypto and decentralized financing, as well as what he may be working on.
According to the sources, Harrison has told at least one venture capital company that he is aiming to fund $6 million at a valuation of $60 million, but those specifics are open to change.
The company’s goal is to make it easier for professional investors to trade digital assets on centralized exchanges and decentralized protocols.
An updated breakdown of the group’s cash holdings is included in the file, submitted late Monday by Alvarez & Marsal North America LLC, the prospective financial advisor to FTX Group. It states that the most recent data have much greater cash balances than the debtors were in a position to verify as of November 16.
The Alameda silo, dotcom silo, ventures silo, and West Realm Shires (WRS) silo all have cash balances that contain both their debtor and no-debtor firms. According to the petition, $751 million is owned by debtor businesses, while the remaining $488 million is held by non-debtor entities.
FTX Japan had a cash balance of $171.7 million, while controversial trading firm Alameda Research and related firms’ cash balances total nearly $401 million, according to a Bloomberg report.
Maxine Waters, Chair of the House Financial Services Committee, also praised Bankman-Fried’s candid comments about the FTX collapse and invited him to a committee hearing on December 13.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
Author
News
Former FTX US Head Brett Harrison Seeks To Raise Fund For Crypto Startup
According to The Information, former FTX US president Brett Harrison is attempting to seek funds for a crypto trading software firm from significant investors.
Brett Harrison, who left the companies only about five weeks before the exchange’s public problems began, was one of FTX US’s more public-facing executives during his tenure.
While the fresh fundraising efforts were not previously revealed, Harrison did post a couple of Twitter threads in October regarding the challenges of crypto and decentralized financing, as well as what he may be working on.
According to the sources, Harrison has told at least one venture capital company that he is aiming to fund $6 million at a valuation of $60 million, but those specifics are open to change.
The company’s goal is to make it easier for professional investors to trade digital assets on centralized exchanges and decentralized protocols.
An updated breakdown of the group’s cash holdings is included in the file, submitted late Monday by Alvarez & Marsal North America LLC, the prospective financial advisor to FTX Group. It states that the most recent data have much greater cash balances than the debtors were in a position to verify as of November 16.
The Alameda silo, dotcom silo, ventures silo, and West Realm Shires (WRS) silo all have cash balances that contain both their debtor and no-debtor firms. According to the petition, $751 million is owned by debtor businesses, while the remaining $488 million is held by non-debtor entities.
FTX Japan had a cash balance of $171.7 million, while controversial trading firm Alameda Research and related firms’ cash balances total nearly $401 million, according to a Bloomberg report.
Maxine Waters, Chair of the House Financial Services Committee, also praised Bankman-Fried’s candid comments about the FTX collapse and invited him to a committee hearing on December 13.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
Other Posts
Related Posts
Latest
Singularity Finance Strikes Strategic Partnerships to Lead the AI and RWA Economy and Expand its Ecosystem
Gate.io Launches USDE Financial Products with Annualized Returns of Up to 54%, Ushering in a High-Return Era for Stablecoin Investments
Bitdeer Convertible Notes Worth $360 Million Offered for Expansion Efforts
Press Release
Singularity Finance Strikes Strategic Partnerships to Lead the AI and RWA Economy and Expand its Ecosystem
Gate.io Launches USDE Financial Products with Annualized Returns of Up to 54%, Ushering in a High-Return Era for Stablecoin Investments
