Brett Harrison, Former FTX US President, Will Reveal Everything “In Time”

B. Ali
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Brett Harrison, the former US president of FTX, stated on Twitter that he will discuss the former cryptocurrency exchange at a later time. It is worth noting that Harrison joined FTX in May 2021, and since then, he has supervised the company’s net growth, leadership in the crypto ecosystem, and diversification into new markets including the stock market and non-fungible tokens (NFTs).

Harrison formerly worked at Citadel Securities as a high-speed trader and executive member before joining FTX. Just before FTX became a threat, he retired from his executive positions there.

Sam Bankman-Fried pleaded not guilty to the fraud charges brought by the SEC. Garry Wang, a representative of FTX, and Caroline Ellison, a former CEO of Alameda Research, both entered guilty pleas and agreed to cooperate with law enforcement in their inquiries. Due to its lack of liquidity, the exchange was unable to survive a series of bankroll withdrawals initiated by customers, hence FTX filed for chapter 11 bankruptcy.

FTX announced the sale of certain of its European and Japanese entities and stock interests to pay investors and creditors. US trustee Andrew Vara has launched a legal challenge to the decision to halt sales until the FTX situation is resolved, and has voiced strong disagreement with it.

Harrison’s role in the FTX disaster

Harrison gave no specifics on what he will disclose. However, given that he was an executive member of the firm, his knowledge would be extremely important in SBF’s forthcoming fraud allegations. Bankman-Fried faces a long and uphill battle to establish his innocence.

Harrison’s exit from the exchange may be the beginning of a cryptocurrency initiative. According to online reports from December, he was in contact with well-known financiers and venture capital firms about raising money for his new startup’s cryptocurrency trading software.

 

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Live webinar speaker and derivatives (Forex, Crypto, and Indices) analyst with a broad range of skills for evaluating financial data, investment trends, technical analysis, fundamental analysis, and the best ways to strategies investment selection.  Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.