Former FTX US President Blasts ‘Insecure’ SBF, Reveals Threats to His Reputation

Brett Harrison said he was in constant conflict with SBF and denied involvement in the FTX scam.

Former FTX US president Brett Harrison in a suit sits on top of Sam Banksman Fried head.
  • Harrison said that FTX US management decision came from the Bahamas, where SBF lived and managed FTX International.
  • Faced with criticisms, SBF would respond with โ€œtotal insecurity and intransigenceโ€ as well as with โ€œdysregulated hostility,โ€ โ€œgaslighting,โ€ and manipulation.โ€
  • Harrison wrote a formal complaint depicting the management issues the company was facing. He was told he would be fired and his professional reputation โ€œdestroyedโ€ if he didnโ€™t take back what he wrote and apologize to SBF.
  • Harrison left FTX US on September 27, 2022.

Brett Harrison, the former president of FTX US, has opened up about his time at the company. He offered details about his relationship with disgraced FTX founder Sam Bankman-Fried.

In a 49-tweet thread published on Saturday, Harrison said that he was unaware of any fraud happening at FTX and that working at the exchange seemed like a โ€œdream jobโ€ initially.ย 

Sponsored

However, after some time at the company, Harrison said he started feeling that decisions impacting the U.S. branch of the exchange would come โ€œwithout warning from the Bahamas.โ€

The Bahamas is where FTX International, the main company of FTX Group, was headquartered. SBF, its CEO, lived there for most of FTXโ€™s existence.

โ€œSix months into my time at the company, pronounced cracks began to form in my own relationship with Sam. Around then I began advocating strongly for establishing separation and independence for the executive, legal, and developer teams of FTX US, and Sam disagreed,โ€ Harrison said.

Bankman-Friedโ€™s Inadequate Response to Criticism

Harrison said that he saw SBFโ€™s โ€œtotal insecurity and intransigenceโ€ when his decisions were questioned, as well as his โ€œspitefulnessโ€ and the โ€œvolatility of his temperament.โ€ SBF would sometimes respond with โ€œdysregulated hostility,โ€ โ€œgaslighting,โ€ and manipulation.โ€

โ€œStanding up to an insecure, prideful manager is hard under any circumstance. But itโ€™s nearly impossible when every day, every major voice of culture and commerce deafens you with a narrative that implies if you disagree with your manager you clearly must be wrong,โ€ he said.

Eventually, Harrison got isolated from any decision-making at the company. โ€˜It felt terrible. I sought out information about decisions that had been made behind my back, desperate but trying hard not to show it,โ€ he said.

Harrison and SBFโ€™s conflict reached a breaking point when he made a written formal complaint about the โ€œlargest organizational problems inhibiting FTXโ€™s future success.โ€ In the letter, he said he would resign if the problems werenโ€™t addressed properly.

In response, Harrison said he received a threat on SBFโ€™s behalf that he would be fired and his professional reputation would be โ€œdestroyedโ€ if he didnโ€™t โ€œformally retractโ€ what he had written and deliver an already drafted apology to Sam. Harrison left the company on September 27, 2022.

FTX filed for Chapter 11 bankruptcy on November 12, 2022. Bankman-Fried was charged with eight criminal counts, including money laundering and wire fraud.

On the Flipside

  • Sam Bankman-Fried has yet to respond to Harrisonโ€™s description of their relationship and the management problems at FTX.

Why You Should Care

Brett Harrison was one of the key FTX people who hadnโ€™t spoken about their time at the company. His depiction aligns with reports of power abuse and chaotic management.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Arturas Skur

Arturas Skur is a cryptocurrency news reporter at DailyCoin who covers Web 3.0 domains, DeFi, and Ethereum Layer-2s. With over five years of experience in journalism and public relations, Arturas brings his critical thinking and analytical abilities to deliver insightful news stories. In his free time, he enjoys hiking, playing with his dog, and reading.

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