Table of Contents

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

| Heading | Subheading |
| ——- | ———- |
| Introduction | |
| Who is Brett Harrison? | |
| Reasons Behind Brett Harrison’s Resignation | |
| The Role of SBF and its Core Circle Members | |
| Brett Harrison’s Concerns about FTX US Operations | |
| The Consequences of Brett Harrison’s Concerns | |
| Conclusion | |
| FAQs | |
# 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.

Introduction

FTX is a cryptocurrency exchange founded in May 2019 by Sam Bankman-Fried (SBF) and Gary Wang. It has quickly become one of the largest platforms of its kind, with over $10 billion in daily trading volume. However, a report released by the FTX debtor on April 10th, 2021, stated that Brett Harrison, the former FTX US president, resigned in September 2020 due to several issues.

Who is Brett Harrison?

Brett Harrison was the former president of FTX US, a crypto platform that launched in the US in 2019. Before joining FTX in late 2019, Harrison was a senior director at the New York Stock Exchange (NYSE) and was responsible for overseeing a number of products such as ETFs. According to reports, he had a great track record in his previous role.

Reasons Behind Brett Harrison’s Resignation

As per the report from FTX, Brett Harrison had several disagreements with SBF and its core circle members, which led to his resignation. Reports suggest that the disagreement stemmed from the handling of FTX US operations. Harrison expressed his concerns about the lack of appropriate authorization, formal management structure, and key employees in the US operation. Unfortunately, instead of resolving the issues, the situation went from bad to worse.

The Role of SBF and its Core Circle Members

SBF is not only the founder of FTX, but he also plays a significant role in the operation of the company. His core circle members include some of the senior directors of the company. Brett Harrison had long-standing disagreements with the core members and SBF, which affected the decision-making and eventually led to his resignation.

Brett Harrison’s Concerns about FTX US Operations

Brett Harrison expressed serious concerns about the operation of FTX US. He specifically highlighted the lack of appropriate authorization, formal management structure, and key employees. He believed that the management of FTX US was not up to par, which could result in problems in the future. Harrison had a great track record during his tenure at NYSE and had seen the result of bad management. He feared that without proper management, FTX US may suffer in the long run.

The Consequences of Brett Harrison’s Concerns

When Brett Harrison expressed his concerns to SBF and former engineering director Nishad Singh, his bonus “significantly decreased”, and the company lawyer instructed him to apologize to SBF. However, Harrison refused. This incident soured the relationship between Harrison and the management team, eventually leading to his resignation.

Conclusion

Brett Harrison’s resignation came as a surprise to the industry. However, the reasons behind his resignation show that even some of the biggest companies in the crypto industry have their own share of problems. Proper management is essential for any company, regardless of the industry. It is something that FTX US needs to focus on in the future.

FAQs

1. What is FTX?
FTX is a cryptocurrency exchange founded in May 2019 by Sam Bankman-Fried and Gary Wang, which quickly became one of the largest platforms of its kind, with over $10 billion in daily trading volume.
2. Who is Brett Harrison?
Brett Harrison was the former president of FTX US, a crypto platform that launched in the US in 2019. Before joining FTX in late 2019, Harrison was a senior director at the New York Stock Exchange (NYSE).
3. What were the reasons behind Brett Harrison’s resignation?
Brett Harrison had several disagreements with SBF and its core circle members regarding the handling of FTX US operations. He expressed his concerns about the lack of appropriate authorization, formal management structure, and key employees in the US operation.