FTX's former US president is reportedly raising money for a new crypto startup after the crypto exchange's collapse

According to a report, a former high-ranking FTX executive is trying to move on.

According to a report from The Information, the former president of FTX US is in talks with investors for a new startup.

At an overall valuation of $60 million, the former FTX executive is looking for investors to raise $6 million.

The company slid into bankruptcy a few weeks before Harrison left his role. Sam Bankman-Fried, the former CEO of FTX, and the CEO of Alameda Research, are accused of using customer funds in a questionable way.

Harrison used to work at Jane Street, where he worked with Bankman-Fried, according to the report.

Insider asked Harrison for comment on his new venture. He said he was surprised and sad by the news.

The world of cryptocurrencies has been damaged by FTX's insolvency. Since FTX declared bankruptcy in early November, Gemini and BlockFi have stopped customer withdrawals.

Many prominent investors have grown weary of wading deeper into the industry when Harrison is trying to raise money. The data from The Information shows that there was a $5.1 billion decrease in the amount of money raised by cryptocurrencies in the third quarter.