Brett Harrison, Ex-FTX US President, Lands $35M for New Perpetual Futures Platform

A former crypto heavyweight just secured a massive war chest for his next act—and it’s targeting the very market his old firm once dominated.

Brett Harrison, who helmed FTX’s U.S. operations, has raised $35 million to launch a new perpetual futures exchange. The funding round, announced today, signals a major bet on the future of derivatives trading in the digital asset space, even as the industry continues to grapple with the fallout from past collapses.

Building from the ashes

The capital injection will fuel the development of a platform designed for institutional and sophisticated traders. Harrison’s venture aims to offer a robust, compliant alternative in the perpetual futures market—a corner of crypto known for its high leverage and relentless 24/7 action.

Perpetual contracts, which have no expiry date, are the lifeblood of crypto derivatives volume. Harrison’s new exchange plans to compete by focusing on infrastructure reliability and deep liquidity, two pain points that have plagued even established players.

The credibility factor

Raising $35 million in today’s cautious climate isn’t just about the idea—it’s about the team. Harrison’s FTX pedigree, despite the firm’s infamous implosion, brings a rare mix of high-level experience and hard-earned lessons in risk and regulation. Backers are betting that this insider knowledge can be leveraged to build something more resilient.

The move also highlights a growing trend: veterans of fallen crypto giants recycling their expertise (and contacts) into new ventures, often with surprising success. It turns out that knowing exactly how something can blow up is valuable—at least to investors who still believe in the long-term thesis.

A crowded arena

The new platform will enter a fiercely competitive landscape. Established giants like Binance and Bybit command the lion’s share of volume, while a host of newer, agile entrants fight for the rest. Harrison’s challenge will be to carve out a niche, likely by appealing to traders who prioritize execution and stability over flashy incentives.

It’s a classic finance play: use other people’s money to build a better mousetrap for trading other people’s money, and take a cut on every round trip. The $35 million isn’t just funding—it’s a statement that the derivatives game is far from over, and the next chapter is being written by those who survived the last crisis.

TLDR

• Architect Financial secures $35 million to launch a regulated exchange for perpetual futures.

• AX exchange will offer derivatives tied to equities, foreign exchange, and commodities.

• The $35M funding round was led by Miami International Holdings and Tioga Capital.

• AX exchange targets institutional investors outside the U.S. due to regulatory concerns.

Brett Harrison, the former president of FTX US, has raised $35 million for his new venture, Architect Financial Technologies. The funding round, reported by The Information, positions Architect to build a global exchange for perpetual futures tied to traditional assets, such as equities and foreign exchange. Architect’s new exchange, AX, aims to bring the efficiency of crypto-market infrastructure to regulated global finance, without listing crypto-related contracts.

The recent funding brings Architect’s valuation to approximately $187 million, with major investors like Miami International Holdings and Tioga Capital leading the round. This strategic MOVE is set to expand the scope of perpetual futures, a crypto-native financial product, into macroeconomic and real-world markets.

Growth of Perpetual Futures Beyond Crypto

Perpetual futures, or “perps,” were first popularized in the cryptocurrency markets, allowing traders to speculate on asset price movements without expiry dates. While these contracts have gained traction in crypto, there is now growing interest in applying this product structure to traditional markets, such as commodities and macroeconomic data.

I’m very happy to announce @Architect_Fi's $35M strategic Series A to accelerate the growth of AX, the financial industry’s first centralized and regulated exchange for trading perpetual futures on traditional assets. pic.twitter.com/ENOzPVT4BK

— BRETT Harrison (@BrettHarrison88) December 23, 2025

In a recent report by Coinbase Ventures, traditional financial assets like commodities, foreign exchange, and equities were flagged as key areas for perpetual futures. The investment firm sees potential for derivatives that allow traders to gain synthetic exposure to these assets, bypassing the need to hold the actual underlying assets. This demand comes as traders seek more ways to hedge and express views on traditional markets without direct ownership of assets, a market that remains under scrutiny by regulators, especially in the U.S.

Harrison, who stepped down as president of FTX US in 2022 ahead of the company’s collapse, has now set his sights on filling the gap for institutional traders. Architect Financial is positioning itself as a bridge between cryptocurrency and traditional financial markets, hoping to leverage the efficiency of crypto-based technology to meet institutional demand for advanced trading solutions.

Architect’s Global Expansion and Regulatory Focus

Architect Financial Technologies, based in Chicago, plans to expand its reach into Europe and Asia-Pacific. The firm already maintains subsidiaries that are compliant with U.S. regulations, including Architect Financial Derivatives LLC, which is registered with the NFA, and Architect Securities LLC, which is registered with FINRA.

The $35 million raised will help Architect build out the infrastructure necessary for expanding its exchange and increasing its product offerings. This includes expanding into tokenized asset products and brokerage services in response to the growing demand for derivatives trading, particularly among institutional investors.

Harrison’s goal with AX is to offer a secure and compliant environment for institutional investors to trade perpetual futures on traditional assets. The firm is keen on addressing the regulatory concerns that have hampered crypto-style derivatives from entering the U.S. market, particularly given the slow pace of regulatory approval for these products.

Institutional Demand for Traditional Derivatives

The perpetual futures market, while initially limited to digital assets, is gradually expanding into other asset classes. Traders are looking for ways to gain exposure to macroeconomic data and commodities without directly owning or managing these assets. Architect Financial sees this as a unique opportunity to bring crypto-inspired market solutions to traditional institutional finance.

Despite regulatory concerns, the AX exchange is positioned as a tool for institutional traders in regions like Europe, Bermuda, and Asia, where regulatory frameworks for these types of derivative products are more favorable. While the U.S. regulatory environment remains restrictive, Architect aims to lead the way in expanding this product category globally, catering to the increasing interest in trading traditional financial products with crypto-like flexibility.