Former FTX general counsel Can Sun, who played a pivotal role as a key witness in the trial against Sam Bankman-Fried (SBF), is joining forces with other ex-FTX executives to establish a new cryptocurrency exchange, the Wall Street Journal reported.
The Dubai-based start-up, known as Trek Labs, recently obtained a license from the Emirate’s crypto regulator, marking a new chapter for individuals determined to address the challenges that led to the downfall of their previous employer.
Trek Labs is seeking investors, aiming to sell a 10% stake at a valuation exceeding $100 million.
Sun was a key witness for the prosecution in SBF’s trial. He told the jury that he resigned after discovering the mismanagement of customer funds and refused to justify the former billionaire’s actions.
Former FTX employees
Besides Sun, Trek Labs also features other key figures from the defunct company in leadership roles, including Armani Ferrante.
Ferrante serves as the CEO of Trek’s holding company
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