Brett Harrison Is Leaving His Position As President Of FTX US

Brett Harrison, the former high-speed trading executive turned crypto exchange chief, is stepping down as president of FTX US.

“I’m stepping down as President of @FTX_Official,” Harrison tweeted Tuesday. “Over the next few months I’ll be transferring my responsibilities and moving into an advisory role at the company.”

Brett Harrison managed the company’s expansion as it attained unicorn status and ventured outside of cryptocurrency to include stock and non-fungible token trading after joining FTX.US as president in May 2021. It has recently pressed regulators in order to launch a new crypto derivatives product, angering established companies in the process.

In May 2020, FTX, a dominant force in global crypto derivatives trading, launched FTX US at a stated worth of $32 billion.

At this point, it’s unknown what Harrison will do next. “I’m eager to talk more about what I’ll be doing after this. To guarantee FTX concludes the year with all of its trademark momentum, I’ll be helping Sam and the team with this transition in the interim “He composed.

Nevertheless, given his prominent position at the business, which was started by cryptocurrency entrepreneur Sam Bankman-Fried, the revelation is startling.

Brett Harrison had been speaking at conferences like Anthony Scaramucci’s SALT

In fact, the former executive in charge of trading technology at Citadel made an appearance on an edition of The Scoop that aired on September 16. He discussed the development of FTX.US and his goals for the future, emphasizing the necessity of getting clarification from American regulators. If the recent effort by FTX.US to work with the Commodities Futures Trading Commission is successful, it will be able to offer futures trading to customers directly rather than through a brokerage company. Regulators still need to approve the project.

At Jane Street, a quantitative trading firm, Brett Harrison and Bankman-Fried worked together. According to Bankman-Fried, “he coupled tremendous technical talents (far better than mine!) with a clear sense of the business objectives and priorities.”

FTX.US enabled the trade of more than $6.6 billion in cryptocurrencies in August, up from around $2 billion in June 2021, but still lagging behind more established competitors like Coinbase and Kraken.

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