Crypto Exchange FTX US President Steps Down

    Brett Harrison, president of crypto exchange FTX's U.S. subsidiary, announced his resignation on September 27.

    FTX moves headquarters, expands in the Southern US

    On September 27 evening, FTX announced to move headquarters to Miami, only 4 months after the opening of its headquarter in Chicago.

    Speaking with Bloomberg about the move, FTX CEO Sam Bankman-Fried said that establishing offices around the world has been the company’s mission for many years.

    Miami has become a hotbed of US crypto, second only to New York in terms of investments in crypto startups. Miami Mayor Francis Suarez has made attracting companies and industry talent the focus of his administration, even reducing regulations and tax burden.

    President of FTX US steps down

    At the same time, Brett Harrison – president of FTX US decided to leave the chairman position, and move into an advisory role. 

    Harrison has served as the president of FTX US since March 2021. In addition, he is also in charge of operating FTX Stocks and FTX US Derivatives. Previously, he spent nearly two years at Citadel Securities and 7.5 years as head of trading systems technology at investment firm Jane Street.

    “Over the next few months I’ll be transferring my responsibilities and moving into an advisory role at the company,” Harrison said on Twitter, noting he will work to ensure his transition is smooth so FTX ends 2022 with “all its characteristic momentum.”

    Harrison said he would remain in the crypto industry, despite the price mayhem, “with the goal of removing technological barriers to full participation in and maturation of global crypto markets, both centralized and decentralized,” he said.

    Zach Dexter, CEO of FTX’s US derivatives unit, will take over Harrison’s position. Dexter was previously the CEO of LedgerX and joined FTX in October 2021 after FTX acquired this exchange.

    Harrison’s resignation is one of a spate of recent executive resignations from crypto companies, including MicroStrategy’s Michael Saylor, and Kraken CEO Jesse Powell.

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