Former FTX exec in talks with investors for new crypto startup - The Information
(Reuters) - Brett Harrison, the former president of collapsed crypto exchange FTX's U.S. arm, is trying to raise money for a new crypto startup, the Information reported on Friday, citing two people with knowledge of the matter.
Harrison has told at least one venture capital firm he is aiming to raise $6 million at a valuation of $60 million for a firm focused on crypto trading software for big investors, the report added.
Harrison did not immediately respond to a Reuters request for comment on the report.
This comes weeks after FTX filed for U.S. bankruptcy protection and its founder Sam Bankman-Fried resigned as chief executive, after rival exchange Binance walked away from a proposed acquisition.
The collapse has rippled across the industry hobbling liquidity at other major players including crypto lenders BlockFi and Genesis.
Many firms have since been bracing for a fallout as a sell-off in digital assets deepens and venture investors lose appetite for crypto firms.
(Reporting by Manya Saini in Bengaluru)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Maldives court overturns ex-president Yameen's jail term
- Chinese spies target Dutch industries to strengthen military, intelligence agency says
- NATO working on more air defences for Ukraine, Stoltenberg says
Create E-mail Alert Related Categories
ReutersRelated Entities
Bankruptcy, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!