New information may be surfacing soon about the activities of Bahamian-headquartered cryptocurrency exchange FTX as Brett Harrison, the former president of its US arm has revealed his intention to reveal certain truths in due course. In response to a Twitter post by James Christoph demanding information concerning what he knew about FTX U.S., Harrison answered saying, “I’ll share in time.”
Brett Harrison became president of FTX U.S. in May 2021 and served in the same capacity for over twelve months before he finally resigned in September, a few months before FTX collapsed. During his time as president, FTX U.S. headcount across its technology, business development, legal, compliance, operations, and customer service multiplied in huge numbers.
Harrison’s Time in FTX U.S.
The ex-president was instrumental in the acquisition of several funding rounds including the $400 million with Temasek Holdings, SoftBank Group Corp, Paradigm, and Multicoin Capital which eventually raised the valuation of the exchange to $8 billion.
Soon after this funding round, FTX U.S. acquired Embed, a regulated Whitelabel brokerage services firm.
After his exit from FTX U.S., it was announced that Harrison was launching a startup firm that will deal in trading software for digital assets with a focus on bug investors. Consequently, Harrison started making plans in December 2022 to secure $6 million to kick off the enterprise. Although the actualization of his investment plan was hinged on a total of $60 million.
Guilty or Not Guilty?
No mention has been made as to whether Harrison is working together with prosecutors to make headways in the FTX investigations. Owing to his prior exit before the liquidity crunch of FTX and its bankruptcy filing, Harrison has not been dragged yet in any of the FTX investigations unlike former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang who have now pleaded guilty.
In the same vein, the former Chief Executive Officer (CEO) of FTX Sam Bankman-Fried pled not guilty in a federal court of New York to all eight counts laid against him. As it stands, he is set to face trial in October 2023, which may hold for up to four weeks.
