Former FTX US president completes $35 million funding round to launch new exchange AX

According to *The Information*, former FTX US president Brett Harrison has completed a $35 million funding round for his newly founded fintech company, Architect Financial Technologies, valuing the company at approximately $187 million. The company's exchange, AX, focuses on trading perpetual contracts for traditional assets, including stocks and forex, rather than cryptocurrency perpetual contracts. The AX platform is regulated in Bermuda and is only open to non-US institutional investors because perpetual futures products are not currently approved in the United States.