Exchange News- Former FTX US president, resigned after an argument with Sam Bankman-Fried.
- Harrison concerned about how FTX US was run.
According to recent information from the bankrupt cryptocurrency exchange FTX’s current leadership, former FTX US President Brett Harrison quit in part due to a “protracted disagreement” with CEO Sam Bankman-Fried and people in his inner circle in September.
The report submitted to the Delaware bankruptcy court on Sunday. The report asserts Harrison had major problems with how FTX US handled. includes “the absence of proper delegation of responsibility, formal management structure, and key personnel. The assessment, represents FTX CEO John J. Ray III’s first comprehensive assessment of the exchange’s management issues since taking control following its shocking collapse in November.
As per the report, his bonus dramatically reduced. That was after he brought up those issues with Bankman-Fried. And Nishad Singh, the former director of engineering, and he also given the go-ahead by corporate lawyers to make amends to Bankman-Fried. Additionally, another member of the exchange’s legal team immediately dismissed. That was after raising issues with Alameda’s lack of risk management, competent leadership, and internal corporate controls.
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Source: https://thenewscrypto.com/former-ftx-us-president-reportedly-disagreed-with-sbf/