Former FTX executives' newly founded exchange raised $35 million, with traditional asset Perptual Futures becoming a new track.

[Coin World] Interesting financing case - Brett Harrison, former president of FTX US, has just completed a $35 million financing for his new company Architect Financial Technologies, with a valuation soaring to $187 million.

The key point is what their AX exchange wants to do? Perpetual contracts for traditional assets. That's right, it's perpetual for stocks and foreign exchange, not the cryptocurrency model. This direction is actually quite innovative - leveraging the trading mechanism of crypto perpetuals to tap into the derivatives market of traditional assets.

But there is a practical constraint here. AX has chosen to accept regulation in Bermuda, and it is currently only open to non-US institutional investors. Why? To put it bluntly, the US has not yet approved products like perpetual futures, and the regulatory policies are still in a gray area. Therefore, new platforms can only start with overseas institutional clients.

This actually reflects a larger trend – the boundaries between traditional finance and Web3 are gradually blurring. Some are using blockchain technology to transform the trading experience in traditional markets, while others are using the risk control logic of traditional finance to enter the on-chain world. Brett Harrison's strategy is a typical example of cross-domain innovation. When regulatory policies catch up will determine how far these types of products can go.