Batik cryptocurrency Brett Harrison, the founder of FTX.US, the US arm of the stock exchange FTX, has released a statement about the collapse of the company and its role in it.
Harrison served as head of FTX’s US operation until he abruptly left his post last September after serving less than 18 months. At the time, Bloomberg described Harrison’s departure as a “surprise exit” that drew attention to the cryptocurrency industry.
Former FTX.US CEO Brett Harrison Reveals Details of Sam Bankman-Fried’s Management of the Company
Harrison said in a statement that his relationship with FTX’s CEO, Sam Bankman-Fried, had come to a standstill after months of disagreements over management practices at the company.
Harrison said he accidentally joined FTX US in a message from Sam Bankman-Fried in late March 2021, and his first few months at the company were great. He has worked largely independently of Bankman-Fried to grow a US-based team and foster a professional environment tailored for regulated businesses.
However, despite Bankman-Fried’s seldom dealing with business in the United States, he noticed that decisions affecting the United States were beginning to come from the Bahamas unexpectedly.
1/49 Many have asked questions about my time at FTX US and why I left when I did. As I indicated earlier this week, I’m happy to begin sharing my experiences and perspective publicly.
— Brett Harrison (@BrettHarrison88) January 14, 2023
Harrison also noted that when Bankman-Fried’s decisions were questioned, he was completely insecure and uncompromising, noticing his vindictiveness and volatility of temperament.
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He stated that he later realized that Bankman-Fried was not the person he remembered, and that he did not know the reason for the dramatic change he saw in him. He thought this might be a positive thing and initially sympathized with it, but did not know Bankman-Fried well enough personally, nor did he have time to reflect on the question.
She was in a business relationship with him and disagreed with a number of decisions Bankman-Fried made about running the business.
As a result, Harrison stated that he was not responsible for the collapse of FTX.US and that his departure was not abrupt and he had been planning this for some time. He also stated that he was not fired and that he resigned voluntarily.
*Not investment advice.