Former FTX US CEO’s New Venture Is Seeking to Harness AI for Crypto Trading

Brett Harrison’s new firm, Architect, aims to be an one-stop platform for institutional-grade crypto trading.

Pek çok insan, yapay zekanın (AI) hemen hemen her sektör üzerinde derin bir etkiye sahip olacağına inanıyor ve kripto ticareti de bir istisna değil. Ana şirketi çökmeden sadece aylar önce istifa eden FTX.US’un eski CEO’su Brett Harrison, AI kullanmanın algoritmik ticaret stratejilerini kodlamayı kolaylaştırabileceğini düşünüyor.

Harrison bir röportajda CoinDesk’e verdiği demeçte, yeni girişimi Architect’in resmi olarak Ocak 2023’te Coinbase Ventures ve Anthony Scarmucci’den 5 milyon dolarlık bir başlangıç ​​turu ile başladığını ve bireysel tüccarlara ve büyük kurumlara yatırım araçları getirmeyi amaçladığını söyledi. Architect’in platformu, Mayıs ayından bu yana belirli müşteriler için beta modunda kullanıma sunuldu.

Around February or May, when interest in AI was at its zenith, Architect saw an opportunity to write algorithmic trading code for crypto, using generative AI tools such as ChatGPT – the chatbot created by Sam Altman’s OpenAI. Often the hardest part about creating such algorithms is the initial step, going from zero to one, because it requires specialized skills and knowledge that not all trading firms have in-house, he said.

“Our idea was to leverage the OpenAI API’s [application programming interfaces] and combine them with our internal trading API’s that we’ve built on top of all these different protocols to make it possible to use natural language probes to generate trading strategy code,” Harrison said. For example, using Architect’s platform, traders could set up software that buys bitcoin on Coinbase (COIN) when its price drops below what it is on other crypto exchanges.

Early stages

But Architect is still in the “early exploration” phase of AI tools, and envisions it as part of a suite of features on its platform. Another AI-powered tool it is considering based on customer feedback is actually using large language models (LLMs) for advanced market indicators, or actually embedding LLMs directly into the trading process, Harrison said.

LLMs such as OpenAI’s ChatGPT and Google’s Bard are artificial neural networks trained on large datasets of language, such that they can understand and generate human-like texts. Due to their proficiency with language, LLMs can understand complex concepts and explain them to users in an approachable way.

“The main thesis is to build good software that helps enable institutions to be prepared for a world that mixes traditional and digital assets seamlessly,” Harrison said. “But we do think that AI is going to be a critical component of most businesses going forward, and we didn’t want to miss the opportunity to be able to leverage AI tools for our users.”

Ultimately, the success of the trading strategies depends on the team behind it, not just the generative AI used to build it. The results you’re going to get from something like OpenAI’s Chat GPT are only going to be as good as the prompts that you’re giving it, Harrison noted.

“You definitely need to review the strategy, make sure it’s working, tweak it, test it,” he said.

The FTX connection

Regardless of the new trading platform, the shadow of FTX – the company that saw one of the crypto world’s most highly publicized collapses – has followed Harrison and Architect.

Harrison resigned from the position of CEO at FTX.US in late September 2022, just months before the exchange’s collapse. Six of eight Architect employees listed on its website used to work at FTX US.

FTX ile bağlantısı ve bağış toplama hakkında sorulan Harrison, bazı yatırımcıların bunu sallayamadığını, ancak diğerlerinin yapabildiğini söyledi.

“Çökmeden önce Sam’in sektör üzerinde nasıl gerçek bir güce sahip olduğu ve bunun benim zam sürecimi bile nasıl etkilediği hakkında halka açık bir şekilde konuştum ve insanlar, Sam’in çöküşten önce şirketle nasıl bir bağlantısı olacağını sordu. Ve sonra, çöküşten sonra, aynı yatırımcılardan bazıları benim FTX ile ilişkim konusunda endişelendi. Ama bunlar konuştuğu herkesten sadece birkaçı” dedi.

“Aslında endüstrinin en zor zamanlarından bazılarında, sadece kriptoda değil, VC [risk sermayesi] manzarasında genel olarak para toplamak için çok başarılı bir şekilde toparlamayı başardık.” dedi Harrison.

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Two exhibitions pay tribute to Brazilian architect Paulo Mendes da Rocha

This is the year of late architect Paulo Mendes da Rocha at Casa da Arquitectura, in Matosinhos, northern Portugal. Two exhibitions dedicated to the Brazilian Pritsker opened to the public.

“I think it was the best exhibition I have seen of Paulo’s work, because in addition to being complete, it’s been very well taken care of… the photos, the models. I have never seen anything like this”, says Helene Afanasieff, the widow of Paulo Mendes da Rocha, one of the greatest Brazilian architects, who died in 2021.

Helene can’t hide her emotion. She has just attended, with her children and dozens of guests, the pre-opening of two exhibitions dedicated to the Brazilian Pritzker at Casa da Arquitectura (House of Architecture), in Matosinhos, northern Portugal.

Helene Afanasieff married Paulo Mendes da Rocha in 1974

Four years ago, the Brazilian architect donated the totality of his archives to the Casa da Arquitectura. 

Helene recalls the controversy caused in Brazil by her husband’s decision: “You cannot imagine. The USP (University of São Paulo), the people in Brazil, were very offended”. But she says that her husband just replied: “I know how the collections are conserved at FAU-USP (The Faculty of Architecture and Urbanism, University of São Paulo). They are kept in tubes in the middle of the corridor. I am sure that Portugal will take good care of it”. 

Paul is not here anymore, but Helene thinks he wouldn’t regret his decision.

Two exhibitions dedicated to Paulo Mendes da Rocha opened to the public on 26 May

“Geography is the first architecture”

Paulo Mendes da Rocha’s work over seven decades is revealed in the exhibition “Constructed Geographies: Paulo Mendes da Rocha”, in the main gallery of Casa da Arquitectura. An unprecedented extent has been extracted from the immense collection he donated to the Portuguese institution.

“We chose to work on the theme of geography, saying that this is the first architecture. When man arrives at a place and decides to implant his humanity, his daily life, his poetry there, that is the first architecture. All of us are architects in some way”, says Vanessa Grossman, co-curator of the exhibition along with Jean-Louis Cohen.

Vanessa Grossman and Jean-Louis, curator of the exhibition “Constructed Geographies: Paulo Mendes da Rocha”

Twelve major projects are featured from their origins to their current state, from Butantã House (1964-1967), in São Paulo, to some of his latest projects, like the National Coach Museum (2008-2015), in Lisbon, or Sesc 24 de Maio (2001-2017), in São Paulo.

Sesc 24 is one of Paulo Mendes da Rocha’s projects in focus at the exhibition

“Throughout his troubled career, which was marked by the dictatorship, and despite everything, he managed to make projects that range from true domestic experiments, like the house that became a space of invention for him, to a public school on the outskirts of São Paulo, where recreation gained a very broad dimension, but also apartment buildings and cultural facilities”, says Grossman.

The exhibition features 138 original drawings, original models and eight new models produced for this event, along with ten videos made for the exhibition about the architect’s featured works. There are also 44 original drawings by Flávio Motta related to the exhibition project of the Osaka Pavilion, which were censored by the military dictatorship in Brazil (1964-1985).

His architecture was very austere, very respectful of this economy of means, but very poetic.

Paulo Mendes da Rocha won the competition for Brazil’s pavilion at Expo’70 in Osaka

“His architecture was very austere, very respectful of this economy of means, but very poetic. So, there was this tension between poetics and austerity, which I think runs through his work, which is manifested, for example, in the beauty of the drawings, but also in the models he made out of paper”, highlights the curator.

Anyone who comes here and doesn’t know Paulo Mendes da Rocha’s work will practically discover the history of Brazil.

Breaking the association with concrete and metal

“I think he is an architect very much associated with the language of concrete and, later on, he experimented a lot with metal, but I think his work goes beyond this issue of matter and materiality,” explains co-curator Grossman. “I think that for him concrete was an opportunity, it was a field of invention, it was a technological field that would bring infrastructure.” 

Grossman says that she and her colleague Jean-Louis Cohen “wanted to break this simplistic association between his architecture and concrete” in this exhibition. In fact, she thinks that “the great substance that runs through the exhibition is really water, the water of his childhood, of his father, who was a naval architecture engineer and he was very marked by the port experience, as he was born In Vitória” (on 25 October, 1928).

The exhibition will be on display until February 2024

“In Brazil, road transport has created a chaotic urbanism and an occupation of territory that is very irrational. So, he always talked about reversing the course of disaster through this reconciliation between cities and waters, which is somehow ecological thinking,” continues Grossman. “For some it is difficult to associate Paulo with ecology, but this issue between culture and nature is really very characteristic of his thinking and his buildings were, shall we say, a critical approach to the world”.

“Anyone who comes here and doesn’t know Paulo Mendes da Rocha’s work will practically discover the history of Brazil, the history of a very committed architect, who was very anchored in his adoptive city, São Paulo, despite coming from a port city, which is Vitória”, she concludes.

According to Jean-Louis Cohen, “this is not the building that Paulo made, but the building that made Paulo”

Talking with Paulo Mendes da Rocha

In the Casa da Arquitectura’s Gallery we can find another exhibition entitled “Paulo: Beyond Drawing – Talking with Paulo Mendes da Rocha”, curated by Marta Moreira and Rui Furtado.

Moreira shared her “immense joy and emotion” for having worked on what she described as a very rich process, having talked to many people who knew the architect, to get to know “the enchanting universe of Paulo’s ideas and work”. 

“We were concerned with showing people in general that there was a very coherent, very consistent, very constant speech that guided Paulo’s life and, therefore, his work,” says Moreira. 

Curators of the exhibition “Paulo: Beyond Drawing – Talking with Paulo Mendes da Rocha”

“We kept putting together small videos from different moments of Paulo’s speeches, whether more formal speeches, classes, or more informal conversations, and that’s how the exhibition was made”, she explains.

The Brazilian co-curator says Paulo Mendes da Rocha’s main principle is “the total negation of the exploitation of one person by the other” and this is reflected in his architecture, for example, “in building a city for all”.

“In this exhibition, we wanted people to be able to hear him”, says Portuguese co-curator Rui Furtado. “We wanted people to really hear him talking about what guided his life and what guided his life were very simple things and they were all linked to a concept that was the continuity of the human species on the planet. And he uses this concept as a criterion for the options and choices in his life”.

“Paulo: Beyond Drawing – Talking with Paulo Mendes da Rocha”

Parallel Programmes in Lisbon, São Paulo and New York

There is a parallel programme, curated by Nuno Sampaio, Catherine Otondo and Vanessa Grossman, that includes debates, conferences and site visits, with the most diverse personalities from the world of architecture who have crossed paths, directly or indirectly, with Paulo Mendes da Rocha. 

The events will take place in Portugal, Brazil and the US. 

A 456-page catalogue has been published in two independent versions, Portuguese and English, with critical essays by leading Brazilian, European and North American scholars revisiting the work of Paulo Mendes da Rocha. There is also an interview with the Portuguese architect Eduardo Souto de Moura, by the curators Jean-Louis Cohen and Vanessa Grossman.

The two exhibitions dedicated to Paulo Mendes da Rocha in Casa da Arquitectura (House of Architecture), in Matosinhos, northern Portugal, will be open until February 2024.