Several months after his resignation, Brett Harrison, the former president of FTX.US returns to the real reasons that led to his departure. Between threats, manipulations and sidelining, these revelations return to the working atmosphere that reigned in the company, as well as the ambiguous personality of Sam Bankman-Fried.
Ex-FTX.US Chairman Explains Reasons For Resigning
Last September, we wrote about the resignation of Brett Harrison, the former president of FTX.US. At this moment, we were very far from suspecting what was to followand the person concerned returned on Saturday to the real reasons which led to his departure:
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
He admits that behind appearances, his relationship with Sam Bankman-Fried (SBF) and his associates had reached “a point of total deterioration, after months of disputes over management practices at FTX“.
Nevertheless, the beginnings had been quite correct, and Brett Harrison explains that he kept good memories of SBF, with whom he had worked at Jane Street Capital. When his former colleague offered him a post, first by text message, he was won over by the vision. He acknowledges that his first few months at FTX.US “were wonderful” and that he enjoyed great independence to develop FTX.US.
However, relations began to sour between the two men when Brett Harrison pleaded for a dissociation between FTX and FTX.US. Indeed, he regularly remarked that “decisions impacting the United States came, without warning, from the Bahamas”, although SBF seemed to have little involvement in American affairs:
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
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Threats and manipulations
In his long thread, Brett Harrison also reflects on the mental health of his former employerseeing in it a line of thought on thevolatility of his temperament» :
18/49 Like many of us, I have family and friends who live with addiction and mental health problems, and I’ve seen how these problems often manifest without much warning in early adulthood. I thought that might be a contributing factor, and initially felt sympathetic.
—Brett Harrison (@BrettHarrison88) January 14, 2023
The ex-president of FTX.US explains that he was not the only one to encounter difficulties with his hierarchy. And for good reason, “many experienced peoplein fields such as finance or legal often saw their judgment questioned, and he concedes that it was difficult to “standing up to an insecure and prideful manager“.
Brett Harrison reports that over the months, he has been the victim of manipulation or hostile reactionsthen was finally discarded:
27/49 It felt terrible. I sought out information about decisions that had been made behind my back, desperate but trying hard not to show it.
—Brett Harrison (@BrettHarrison88) January 14, 2023
In April 2022, while the former president of FTX.US increasingly considering the path of resignation, he chose to complain officially in writing about the working conditions. In response, he explained that he had received threats in the name of Sam Bankman-Fried, saying that he “would destroy [sa] professional reputationif said writings were not officially removed, and an apology, which had been written in its placewere not presented.
Following this, Brett Harrison explains that he has finished his current files to turn to his own future. He also maintains that he and other FTX.US executives knew nothing about the financial crimes revolving around FTX :
38/49 If any one of us had suspected let alone learned the truth, we would have reported them immediately.
—Brett Harrison (@BrettHarrison88) January 14, 2023
Nevertheless, Brett Harrison returns to the pressure suffered on social networks for examplelikening it to the scandal around FTX, recalling however not to be the subject of any legal proceedings.
👉 Also in the news – FTX gets clearance to sell 4 of its most important subsidiaries
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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