Brett Harrison, former President of FTX.US, writes a no-holds-barred tell-all story about his experience with the bankrupt FTX exchange, and his dealings with the former CEO, Sam Bankman-Fried.
Harrison revealed the story on his verified Twitter page. The tell-all series comes as a promise he made last week to members of the public inquiring about his time with the defunct trading firm.
According to the story, Harrison said he casually started working at FTX.US in March 2021 after Bankman-Fried asked him via a text message to join the firm. Harrison highlighted fond memories of having Bankman-Fried as a former colleague in Jane Street Capital, a global trading firm.
As per working conditions in FTX.US, Harrison said he worked with the company for 17 months, and his first few months with the company were fantastic, but the firm didn’t appear as the dream job that was portrayed to the crypto industry and media.
He also stated that his departure from FTX.US was not sudden, adding that his relationship with Sam Bankman-Fried and his deputies had reached a breaking point after months of disagreements over management practices at the firm.
As per his relationship with Bankman-Fried, he stated that the former CEO showed some levels of insecurity, displays a volatile temperament, and becomes spiteful whenever his decision is being questioned in the firm.
Harrison’s Deep Experiences at FTX.US
The former president worked mostly independently of Sam to build a team in the United States and foster a professional environment suitable for regulated businesses.
During his stay, Harrison devised strategies with the LedgerX team, staffed the legal, compliance, and operations departments with best-in-class lateral hires, and began the process of establishing and expanding a US-regulated retail stock brokerage.
The former president played a key role in acquiring multiple investment rounds, notably the $400 million round with Temasek Holdings, SoftBank Group Corp, Paradigm, and Multicoin Capital which ultimately increased the exchange’s valuation to $8 billion.
FTX.US also implemented its plan to offer American users an opportunity to trade Exchange-traded funds (ETF) and stocks when Harrison was still the president of FTX.US.
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