Brett Harrisson, the former president of FTX US, has reportedly left the company to launch his own cryptocurrency startup. According to an article published by the Wall Street Journal, Harrison plans to raise an initial $6 million from investors including blockchain venture capital firm Pantera Capital.
As reported by Coindesk, the former president of FTX US Brett Harrison has left the company to launch his own cryptocurrency startup. According to Coindesk, Harrison will focus on business-to-business services that aim to attract large institutional customers.
Brett Harrisson said he plans to raise $6 million in funding for the new venture, which he is currently calling “Legacy” but may change the name before launch. The former president said that if investors are not interested in Legacy’s idea then they are welcome to invest in other ventures they have planned instead.
Brett Harrisson Wants To Expand Business
Brett Harrisson has been in contact with Pantera for over a year, according to the Wall Street Journal, who first reported the fundraising round last month.
FTX US is a financial technology company that aims to provide trading tools and access to cryptocurrencies through its proprietary software, which will be available as both desktop and mobile applications.
Harrisson is an early Bitcoin adopter who served as president of the Federal Reserve Bank of New York from 2009 until 2014.
He was nominated for vice chairman of U.S. bank regulator the Office of the Comptroller of Currency (OCC) earlier this year but withdrew his candidacy after a number of lawmakers raised concerns about his past work at Goldman Sachs Group Inc and Citigroup Inc., Reuters reported at the time.
FTX US is a company that provides technology solutions for the financial services industry. It was founded in 2016 and has offices in New York City, London, Dubai, Hong Kong and Singapore.
FTX US’s board of directors includes former Bank of America CEO Brian Moynihan, former Citigroup CEO Vikram Pandit and ETF expert Michael Sapir. Brett Harrison served as president of FTX US until April 2019 when he left to launch his own crypto startup called Crypto Capital Holdings LLC (CCH).
The company has not yet announced its name or mission statement but is reportedly seeking $6 million USD in funding through a Series A round led by ex-Goldman Sachs executive Richard Barry III.