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Former FTX exec in talks with investors for new crypto startup – The Information

Dec 2 (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

Our Standards: The Thomson Reuters Trust Principles.

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