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FTX: Former US FTX President Lunar Statements About His Relationship With Sam Bankman-Freed

Prior to his position at FTX US, Harrison worked at SBF Jane Street and before joining FTX he worked at Citadel Securities. In a Twitter thread, the former president of the US subsidiary explained that his “relationship with Sam Bankman-Freed and his deputies has reached the point of complete deterioration after several months of disputes over management practices at FTX.”

A deteriorating relationship between Brett Harrison and FTX CEO Sam Bankman-Freed led to the resignation.

On January 14, 2023, Brett Harrison, former president of FTX US, shared a personal account of his experience at FTX US, an American cryptocurrency exchange company, for seventeen months. Harrison described his days in the US stock market in a 49-part Twitter thread that is very detailed. Harrison was initially enthusiastic about joining the company, but his relationship with the company’s CEO Sam Bankman-Freed (SBF) deteriorated over time over management disputes.

“After six months with the company, cracks began to form in my relationship with Sam,” said Brett Harrison. Around this time, I began to actively advocate for separation and independence between the executive, legal, and technical teams at FTX US, and Sam was against it.

Despite enormous pressure, Brett Harrison persisted in his disagreement with the FTX CEO, whose power over various industries was all-encompassing and inflexible. Harrison said others at FTX US shared his disagreement with the CEO and his inner circle, as he noted that it was a team of seasoned professionals from well-known companies in finance, law and regulated exchanges in the United States.

“Our collective experience and professional understanding has often been seen as irrelevant and useless. It was very unpleasant for all of us,” Harrison insisted. Harrison added:

Sam didn’t like conflict. Sometimes he reacted with mindless hostility, sometimes with gas manipulation and operation, but ultimately he decided to isolate me from communication about key decisions.

Harrison resigned from FTX on September 27, 2022 after trying to resolve organizational issues within the company.

Ultimately, Harrison decided to quit the business and start his own company because he felt that the “dream job” at FTX US was not worth it due to declining health in his relationship with SBF. According to Harrison, the SBF’s behavior and decisions were influenced by the insecurity and volatility of his temperament.

In early April 2022, Harrison made one last attempt to resolve FTX US organizational issues by filing a formal complaint. In response, he is threatened with dismissal and the destruction of his professional reputation by Bankman-Freed unless he withdraws his complaint and apologizes. This event strengthened Harrison in his decision to leave the company. He wants to make sure the company is in a good position to succeed after he leaves, and therefore leaves the company in an orderly manner.

So I phased out my business, finished setting up and launching a brokerage company in the US, and briefed FTX US employees on their mid-year reviews,” Harrison said. I would never have guessed that behind such problems is a multibillion-dollar fraud … which I have seen in other more mature companies in my career and did not consider fatal to the success of the company … “- said Harrison.

Brett Harrison added that he received apologies from many people who knew that he was not involved in the criminal system. He has learned a lot about the industry over the past few months, some people have treated him differently while others have offered him sympathy and support. He also mentions that it will be difficult to forget the insane and baseless allegations leveled against him on social media.

When Brett Harrison left FTX US last year, SBF told Bloomberg that the chief executive’s exit had been planned “for some time.” The news outlet also asked SBF about its own succession plans, and the FTX CEO said at the time that he had no plans to leave FTX and would be there “for the long haul”.

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