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Coinbase Supports Architect

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Coinbase Supports Architect

A startup for cryptocurrency traders has been launched by the former president of FTX.US. Anthony Scaramucci, a former Trump White House press secretary, Coinbase Ventures, Circle Ventures, and other investors have contributed $5 million to Brett Harrison‘s new initiative, Architect.

What is Architect?

A software startup Architect creates the framework for Web3 trading. Trust and safety are now “important components” of Architect‘s product development process as it seeks to work with renowned industry clients. According to Harrison, the company will primarily target the B2B sector with its products, but high-volume traders may also use them.

Harrison said that the company’s main customers would use the startup to swiftly and easily trade on many cryptocurrency platforms from a single interface. For instance, he suggested that the startup make a single API that unifies trading between Coinbase and Uniswap.

               “We’re hoping to design Architect such that clients can trade without having to rely on us to store or safeguard their private information, for example, [or] exchange API keys or wallet keys. So we think that a decentralized solution in some way is going to be important for the design.”

Brett Harrison

Harrison and FTX

Harrison detailed his exit from FTX.US in September 2022 in an almost 50-part Twitter thread that he posted a week ago. His relationship with Sam Bankman-Fried, the CEO of FTX International at the time, had reached a point of absolute degradation, according to him, by the time he departed. This was the result of months of disagreements over FTX‘s management procedures.

In short, Harrison left the company two months after FTX filed for bankruptcy, but the executive claimed that his decision to quit the company had been made far earlier. Harrison is less certain than Sam Bankman-Fried that FTX.US is as “solvent” as he portrays it to be, but he is still cautiously optimistic.

References

www.decrypt.co

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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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