FTX Veteran Launches Traditional Asset Perpetuals Platform in Regulatory Milestone
In a significant development bridging traditional finance and cryptocurrency innovation, Brett Harrison, former President of FTX US, has launched Architect Financial Technologies with regulatory approval from the Bermuda Monetary Authority. The new platform, AX, marks a strategic pivot by introducing perpetual futures contracts for traditional assets including currencies, equities, commodities, and interest rates. This initiative represents a sophisticated adaptation of crypto derivatives market mechanics to mainstream financial instruments, signaling a maturation in the convergence between digital asset infrastructure and traditional finance. Harrison's return to the financial sector with this venture demonstrates how cryptocurrency industry expertise is increasingly being leveraged to transform conventional financial markets. The regulatory clearance from Bermuda positions AX as a legitimate bridge between established financial systems and innovative trading mechanisms previously popularized in crypto markets. The platform's focus on perpetual futures—a derivative product popularized in cryptocurrency trading that allows for continuous positions without expiration dates—applied to traditional assets could potentially increase liquidity and accessibility in markets that have traditionally operated with more rigid structures. This development comes at a time when institutional adoption of crypto-native financial products is accelerating, and represents a reverse flow of innovation where concepts perfected in digital asset markets are now being applied to traditional finance. The move also highlights the ongoing evolution of talent from major cryptocurrency exchanges into broader financial technology roles, with Harrison's FTX background providing both credibility and technical expertise to this new venture. As traditional financial markets continue to explore blockchain and cryptocurrency-adjacent technologies, platforms like AX could pave the way for more integrated financial ecosystems where the boundaries between traditional and digital asset trading become increasingly blurred.
Ex-FTX US Head Launches Perpetual Futures Platform for Traditional Assets
Brett Harrison, former President of FTX US, has re-emerged in the financial sector with Architect Financial Technologies, securing regulatory approval from the Bermuda Monetary Authority. His new platform, AX, will offer perpetual futures contracts for traditional assets—ranging from currencies and equities to commodities and interest rates.
The initiative mirrors crypto derivatives markets but targets mainstream finance. Harrison hints at expansion into AI-linked assets like rare earth metals and data center costs, signaling a bridge between digital and traditional trading paradigms.
Perpetual futures, a crypto staple, enable Leveraged speculation without expiration dates. Their introduction to conventional markets could reshape retail and institutional participation, though regulatory scrutiny remains a watchpoint.
Sam Bankman-Fried Defends FTX: A Fight Against Bankruptcy Claims
Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, maintains that the platform never truly faced bankruptcy and that customer funds remain intact. He disputes the $8 billion deficit reported during the 2022 bankruptcy filing, asserting that the funds were never withdrawn. "All customers will receive between 119% and 143% reimbursement," Bankman-Fried claims. Official bankruptcy managers confirm approximately 98% of creditors have been repaid at a 120% rate so far.
FTX's asset portfolio is under renewed scrutiny. Despite $8 billion in customer claims and over $1 billion in legal costs, bankruptcy proceedings reveal $8 billion in excess assets. The total estimated assets of $136 billion include a mix of cryptocurrencies and traditional investments. Notable holdings include $14.3 billion in Anthropic shares, $7.6 billion in Robinhood stock, $12.4 billion in SOL, $2.9 billion in SUI, and $2.3 billion in BTC. The balance sheet also lists 225.4 million XRP valued at $600 million.
