Last updated on January 2nd, 2026 at 06:34 pm
Quick Breakdown
- Brett Harrison’s Architect Financial Technologies raised $35M to build an institutional multi-asset derivatives platform.
- The firm has regulatory approval in Bermuda and plans to expand into Europe and Asia-Pacific.
- Derivatives continue to dominate crypto trading, driving both liquidity and heightened market volatility.
Brett Harrison, the former president of the collapsed FTX US exchange, has secured $35 million in fresh funding for his new venture, signalling that investor appetite for crypto-linked derivatives infrastructure remains strong despite past industry failures.
Architect has completed a $35M strategic Series A fundraise to accelerate the growth of AX, the financial industry’s first centralized and regulated exchange for trading perpetual futures on traditional assets. pic.twitter.com/UL7HzRsEqE
— Architect (@Architect_Fi) December 23, 2025
The funding round, first reported by The Information on Tuesday, backs Architect Financial Technologies, a startup focused on building an institutional-grade trading platform spanning derivatives, equities, futures, and digital assets.
Institutional backing signals renewed confidence
Participants in the round include major market players such as MIAX, Tioga Capital, ARK Investment Management, Galaxy, and VanEck. The raise follows a $12 million funding round completed in 2024, which drew support from Coinbase Ventures, Circle Ventures, SALT Fund, and other strategic investors.
Regulatory green light and global expansion plans
Architect has already secured regulatory approval in Bermuda, allowing it to offer perpetual futures contracts tied to traditional assets such as equities, commodities, and foreign exchange. Perpetual futures contracts with no expiration date gained popularity in crypto markets through platforms like BitMEX and later became a flagship product at FTX.
The company is positioning itself squarely toward professional and institutional traders, offering advanced tools such as algorithmic trading functionality, robust risk management systems, and support for multi-asset derivatives. Beyond Bermuda, Architect plans to expand into Europe and the Asia-Pacific region.
Why derivatives still dominate global markets
Derivatives remain the largest segment of global financial markets by a wide margin. Estimates place the notional value of outstanding derivatives contracts at hundreds of trillions of dollars, far exceeding global GDP.
A February report from S&P Global highlighted that while derivatives markets continue to evolve, liquidity remains a persistent challenge. As a result, investors are gravitating toward products with deep liquidity and narrow bid-ask spreads, even as new market structures and index-based solutions emerge.
In crypto markets, derivatives play an outsized role, accounting for an estimated 75% to 80% of total trading volume across major exchanges. However, that dominance has also intensified market volatility. The risks were evident during the October 10 liquidation event, when roughly $19 billion was wiped out in a single day, the largest such event on record.
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