• Sat. Apr 20th, 2024

Brett Harrison announces he is stepping down as FTX US President

FTX US will soon be under new leadership after President Brett Harrison announced his resignation a few hours ago. 

Brett Harrison, the U.S. president of the crypto exchange FTX, announced a few hours ago that he is stepping down from his position. This latest development comes after Harrison spent a year and a half spearheading the company’s growth.

Harrison revealed that he is transitioning to an advisory role in the company at a time when FTX US is expanding its operations. He said; 

“I’m stepping down as President of FTX US Over the next few months, I’ll be transferring my responsibilities and moving into an advisory role at the company. I have deep gratitude for my experiences at FTX in the last year and a half. Growing FTX US from three multi-tasking employees to a talented and dedicated team of over 100 across tech, business development, legal, compliance, customer service, and operations; working together to build a nascent crypto exchange into a multi-business enterprise.”

He highlighted that the acquisitions of LedgerX and Embed were some of his best moments as it allowed FTX US to expand its operations and become one of the leading cryptocurrency exchanges in the United States. 

Although he is transitioning to an advisory role, Harrison said he is not leaving the crypto space. 

He said the crypto market is at a number of crossroads, and as a financial technologist, he is focused on the intersection of the arrival of larger market participants, and the increasing fragmentation and technological complexity of the market’s landscape. Harrison said;

“I’m remaining in the industry with the goal of removing technological barriers to full participation in and maturation of global crypto markets, both centralized and decentralized.”

Harrison is stepping down from his role as FTX US President roughly 24 hours after the crypto exchange announced its acquisition of Voyager Digital. 

Voyager Digital announced that it had reached an agreement with FTX US in a deal worth a little over $1.4 billion. FTX US’s acquisition of Voyager Digital came after winning a bankruptcy auction.

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