How Brett Harrison is Reshaping Institutional Trading: Architect's $35M Bet on Bridging Traditional Finance and Crypto

In December 2024, Architect Financial Technologies, founded by Brett Harrison—the former president of FTX US—announced the completion of a $35 million Series A funding round, valuing the company at $187 million. The round was led by Miax and Tioga Capital, with participation from prominent investors including ARK Invest, Galaxy Ventures, VanEck, and Coinbase Ventures.

The timing is remarkable. In a crypto market struggling with bear conditions, securing tens of millions in venture capital backing is exceptionally rare. Yet Architect’s trajectory suggests a different thesis: the future of institutional finance isn’t about cryptocurrency alone, but about seamlessly integrating traditional and digital asset markets.

The Brett Harrison Effect: A Career Built on Trading Infrastructure

Understanding Architect’s positioning requires understanding its founder. Brett Harrison graduated from Harvard with degrees in computer science and brought early experience from Jane Street, one of the world’s leading quantitative trading firms, where he spent over a decade as head of trading systems technology. His expertise spans low-latency systems, algorithmic execution, and sophisticated risk management—skills that would later shape his vision at FTX US.

In May 2021, Harrison took on the role of president at FTX US, overseeing the platform’s expansion into traditional markets and managing technological infrastructure. However, his tenure proved short-lived. By January 2022—months before FTX’s catastrophic collapse—Harrison departed, citing management conflicts with founder Sam Bankman-Fried rather than any financial concerns. His exit, documented in a public letter, would later appear remarkably prescient.

Harrison founded Architect in January 2023, just weeks after the FTX implosion. The company completed its initial seed round of $5 million the following month, with Coinbase Ventures among the early believers. That $12 million Series A followed in February 2024, setting the stage for the current $35 million raise.

AX: The Perpetual Futures Exchange for Traditional Assets

At the core of Architect’s strategy sits AX, a perpetual futures exchange with a crucial distinction: it targets traditional asset classes rather than cryptocurrencies.

This appears counterintuitive at first glance. Perpetual contracts have become a cornerstone of crypto trading, enabling leverage and directional exposure without expiration dates. Yet the U.S. regulatory framework—specifically oversight by the SEC and CFTC—severely constrains perpetual contract trading on crypto assets.

Architect’s innovation sidesteps this regulatory minefield. AX enables perpetual contract trading on forex, commodities, interest rates, and metals. Users gain the efficiency and speed of digital trading infrastructure combined with regulatory compliance. The platform offers institutional-grade features: multi-language APIs, SDKs (Rust, Python, JavaScript), paper trading environments, algorithmic execution tools, and customizable dashboards. Access extends across major global venues including CME Group, Cboe, Nasdaq, and traditional exchanges.

In September 2023, the National Futures Association (NFA) granted Architect registration as an independent introducing broker, formalizing its derivatives operations. This regulatory milestone enabled the company to layer institutional services across multiple asset classes.

Beyond Trading: A Full-Stack FinTech Platform

Architect’s architecture encompasses three interconnected modules beyond AX’s core offering.

The brokerage division provides multi-asset services across stocks, options, futures, and digital derivatives—all operating under U.S. regulatory oversight. The company operates two regulated entities: Architect Financial Derivatives LLC (NFA registered) and Architect Securities LLC (SEC-registered broker with FINRA/SIPC membership).

The post-trade module addresses a critical operational gap for institutional players. It delivers trade reconciliation, real-time P&L tracking, and transaction cost analysis (TCA) designed for hedge funds, family offices, asset managers, and trading desks. This infrastructure helps optimize execution and operational efficiency across both traditional and digital markets.

The B2B Advantage

Unlike consumer-focused crypto exchanges, Architect operates as a B2B infrastructure provider serving institutional clients. It issues no token, relies on no community governance, and generates revenue through trading fees and service margins. This model provides natural insulation from crypto’s cyclical volatility.

The target customer is the sophisticated institutional buyer—hedge funds, family offices, asset managers—seeking a unified tech stack to operate across both traditional finance (TradFi) and decentralized finance (DeFi) environments.

Strategic Timing

Architect’s $35 million Series A arrives at a pivotal moment. SEC Chair Paul Atkins has predicted significant blockchain migration within U.S. financial markets over the coming years. Institutional appetite for traditional assets—gold, silver, equities—is surging as macro conditions shift. Meanwhile, the crypto market remains challenged, creating both pressure and opportunity for infrastructure builders.

For Brett Harrison, the arc appears deliberate: from high-frequency trading infrastructure at Jane Street, through FTX’s institutional expansion, to founding a regulated platform that bridges the two worlds. Architect isn’t betting on cryptocurrency alone. It’s betting on the institutional future of finance itself.