Brett Harrison, the former president of FTX US, has secured $35 million in new funding for his institutional derivatives venture, Architect Financial Technologies, underscoring continued investor interest in regulated multi-asset trading infrastructure despite the crypto sector’s recent turbulence.
According to a report by The Information on Tuesday, the funding round included participation from Miax, Tioga Capital, ARK Investment, Galaxy Digital, and VanEck. The capital will be used to build an institutional-grade trading platform offering access to derivatives, equities, futures, and digital assets under a single system.
The raise follows a $12 million funding round completed in 2024 that drew backing from Coinbase Ventures, Circle Ventures, SALT Fund, and other crypto-focused investors. Combined, the two rounds bring total disclosed funding for Architect to $47 million.
Brett Harrison has positioned Architect as a professional-first platform, targeting hedge funds, proprietary trading firms, and other institutional participants rather than retail users. The company is focusing on infrastructure that supports algorithmic trading strategies, portfolio-level risk controls, and cross-asset margining across traditional and digital markets.
Brett Harrison’s Architect targets institutional derivatives demand
Architect’s expansion comes after the company received regulatory approval in Bermuda to offer perpetual futures contracts linked to traditional financial instruments, including equities, commodities, and foreign exchange. Perpetual futures, commonly known as perps, do not have an expiration date and are widely used by traders seeking leveraged exposure without rolling contracts.
While perpetual futures originated in crypto markets and were popularized by BitMEX, they later became a flagship product at FTX before the exchange collapsed in late 2022. Architect’s approach differs in its emphasis on institutional compliance, risk management, and multi-asset coverage rather than crypto-only trading.
The company plans to use Bermuda as an initial regulatory base while pursuing expansion into Europe and the Asia Pacific region. Harrison has previously said the long-term goal is to operate across multiple jurisdictions with clear regulatory frameworks that allow professional derivatives trading at scale.
Derivatives markets continue to dwarf spot trading
The focus on derivatives reflects their dominant role across global financial markets. Data from S&P Global shows that the notional value of outstanding over-the-counter and exchange-traded derivatives runs into the hundreds of trillions of dollars, far exceeding global gross domestic product.
Liquidity remains a defining factor in derivatives adoption. Market participants increasingly favor venues that offer deep order books, efficient price discovery, and tight bid ask spreads. These conditions are especially critical for institutional traders deploying large positions or automated strategies.
In crypto markets, derivatives have become the primary driver of activity. Industry estimates suggest that 75% to 80% of total trading volume on major crypto exchanges comes from derivatives products rather than spot markets. This concentration has also heightened systemic risk, with large liquidation events amplifying volatility during sharp price moves.
Those risks were highlighted during the Oct. 10 liquidation event, when approximately $19 billion in leveraged positions were wiped out in a single day, marking the largest such event on record.
For Brett Harrison, the challenge now is to build institutional trust around a derivatives platform that blends crypto-native instruments with traditional assets, while operating under tighter regulatory oversight than previous market leaders.
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