Former FTXUS president explains why he stepped down from FTX

On Jan 15, 2023

Brett Harrison explained the whole circumstances that he saw in the FTXUS business, which forced him to step down from the company.

Brett Harrison is a former president of FTXUS. FTX, a parent company behind FTXUS, filed for bankruptcy on 11 Nov 2022. After working 17 months at FTXUS, Harrison stepped down from his role at FTXUS to focus on his own company.

1/ An announcement: I’m stepping down as President of @FTX_Official. Over the next few months I’ll be transferring my responsibilities and moving into an advisory role at the company.
— Brett Harrison (@BrettHarrison88) September 27, 2022

The FTX exchange bankruptcy raised many questions about FTX co-founder & former CEO Sam Bankman-Fried (SBF), former CEO of FTX sister company Alameda Research Caroline Ellison, and FTX co-founder Gary Wang. Just a few days ago, a few people asked Brett Harrison whether he was aware of the bad financial situation of the company or not.

On 14 Jan 2023, Harrison took to Twitter to share his whole journey & reason to explain why he stepped down from the FTXUS exchange.

First of all, he said that the early 6 months at FTXUS were much better for him because he did his job with full freedom & also he confirmed that it was like a dream job for him but after that situation started to change.

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Harrison said that he was not close with Sam Bankman-Fried (SBF) individually but still he was in his relationship from the point of view of the business.

According to Harrison, on some matters, SBF was against him and that situation was creating a type of pressure on him not to work with full independence. Initially, he took this situation as mental stress from the side of SBF.

Further, Harrison stated that he tried to work to make a strong wall between the different departments of the FTXUS so that all the leaders can do their corresponding work with full responsibility & independency but he faced opposition from SBF.

15/49 Six months into my time at the company, pronounced cracks began to form in my own relationship with Sam. Around then I began advocating strongly for establishing separation and independence for the executive, legal, and developer teams of FTX US, and Sam disagreed.
— Brett Harrison (@BrettHarrison88) January 14, 2023

In the last, he said that he did complain about such things but still he faced more pressure over these conditions in the company, so finally decided to leave the company & focus on his own company & self reputation.

30/49 That event solidified my decision to leave. I knew an abrupt departure would be harmful to the company and my FTX US reports, and I wanted to best position the company for future success after I left.
— Brett Harrison (@BrettHarrison88) January 14, 2023