FTX US President, Brett Harrison, Resigned Due to Long-Standing Disagreements

On April 10th, a report released by the FTX debtor revealed that Brett Harrison, former FTX US president, resigned in September last year, partly due to “long-standing disagreements” with SBF and its core circle members. Brett Harrison expressed serious concerns about the operation of FTX US, including a “lack of appropriate authorization, formal management structure, and key employees”. It is said that when he expressed these concerns to SBF and former engineering director Nishad Singh, his bonus “significantly decreased”, and the company lawyer instructed him to apologize to SBF, but he refused.

Part of the reason why the former president of FTX US resigned in September last year was due to “long-standing disagreements” with SBF and others

Introduction

On April 10th, a report was released by the FTX debtor revealing that the former FTX US president, Brett Harrison, resigned in September 2020. The report included some shocking details about the reasons behind his resignation, including long-standing disagreements with SBF and its core circle members.

What was FTX US?

Before we delve into the details of Brett Harrison’s resignation and the reasons behind it, let’s first understand what FTX US is. FTX US is a US-based cryptocurrency exchange that was launched in May 2019. The exchange offers spot trading, futures trading, and leveraged tokens to its users.

Harrison’s Concerns about FTX US

According to the report released by the FTX debtor, Brett Harrison expressed serious concerns about the operation of FTX US. He raised concerns about the lack of appropriate authorization, formal management structure, and key employees. These concerns were brought to the attention of SBF and former engineering director Nishad Singh.

Resignation Due to Long-Standing Disagreements

Brett Harrison’s concerns regarding the operation of FTX US were not addressed by SBF or Nishad Singh. As a result, he resigned from his position as FTX US president in September 2020. The report suggests that long-standing disagreements with SBF and its core circle members played a significant role in his resignation.

Impact of Harrison’s Resignation

Brett Harrison’s resignation had a significant impact on FTX US. The report suggests that his resignation resulted in the departure of key employees and the loss of business opportunities. The impact of his resignation was felt across the cryptocurrency industry, raising questions about the management and operations of FTX US.

Allegations of Unfair Treatment

The report also alleges that when Brett Harrison expressed his concerns to SBF and former engineering director Nishad Singh, his bonus was significantly decreased. Furthermore, the company’s lawyer instructed him to apologize to SBF, but he refused. These allegations of unfair treatment further emphasize the internal issues at FTX US.

Conclusion

The resignation of Brett Harrison, former FTX US president, due to long-standing disagreements with SBF and its core circle members, has raised concerns about the operation of FTX US. His concerns regarding the lack of appropriate authorization, formal management structure, and key employees were not addressed by the company management, resulting in the loss of business opportunities and key employees. The allegations of unfair treatment also raise questions about the management and operations of FTX US.

FAQs

1. What is FTX US?
FTX US is a US-based cryptocurrency exchange that offers spot trading, futures trading, and leveraged tokens to its users.
2. Why did Brett Harrison resign from FTX US?
Brett Harrison resigned from his position as FTX US president due to long-standing disagreements with SBF and its core circle members. He raised concerns about the lack of appropriate authorization, formal management structure, and key employees, which were not addressed by the company management.
3. What was the impact of Brett Harrison’s resignation on FTX US?
Brett Harrison’s resignation had a significant impact on FTX US, resulting in the departure of key employees and the loss of business opportunities. The resignation also raised questions about the management and operations of FTX US.