The Inside Scoop about FTX US’s Former President Brett Harrison
The cryptocurrency industry never lacks drama or flair. One key player who has experienced such turbulence is Brett Harrison, the former president of FTX US, who recently opened up about his departure from the major cryptocurrency exchange and his predictions about the future of Bitcoin.
Separation from FTX US
When it comes to grand exits, Harrisons’s departure from FTX US certainly grabs attention. In an exclusive chat, he confessed that he didn’t say a single word to his colleague Sam Bankman-Fried, the founder of FTX, during his two-month resignation notice period. The silence became so marked that articulating his decision to resign was quite a task.
“I had to talk to other people in the company to formally resign. I wrote one text to Sam and I got back a single heart emoji. That was the last I heard from him,” Harrison recalls.
Both Harrison and Bankman-Fried were once colleagues at Jane Street, a quantitative trading firm. It was there that Harrison saw potential in Bankman-Fried while teaching him programming for traders. However, the personal relationship between them became strained at FTX, with Harrison attributing this to Bankman-Fried’s reluctance to accept feedback.
“Sam hated criticism and, as a result, refused to communicate with me. It drove my decision to quit even further,” Harrison noted.
Despite his fallout with Bankman-Fried, Harrison revealed that he had no idea about the impending storm about to hit FTX. The company declared bankruptcy only a few months after he left the US arm of the exchange.
“The rest of us, especially in the U.S., were blindsighted. We were working with regulators, top lawyers, and to have the whole organization fail because of one person’s greed, will stay with us for the rest of our life,” Harrison reflected.
Rising from the Ashes
Despite the setback at FTX, Harrison wasted no time in bouncing back. He co-founded Architect.xyz, a decentralized finance (DeFi) platform that aims to bridge various opportunities in the digital asset space for both institutional and retail investors.
Harrison’s thoughts on AI
With a Harvard University degree in computer science focused on AI, Harrison shared his thoughts on the potential use of AI in the world. He firmly believes that AI is not a threat to humanity. However, he airs concerns about the potential misuse of AI by humans in facilitating scams and identity thefts.
Twitter Fame and Future Prospects
Notable for his insightful social media posts, Harrison has amassed quite a following on Twitter. His tweets range from market talk and personal life updates to Bitcoin predictions.
Harrison sees the potential for a spot Bitcoin ETF to get approved in the first quarter of 2024, which, he anticipates, would outshine even the record-breaking success of the Bitcoin Futures ETF. He pegs the anticipated price around $50,000 to $55,000 range.
Whether it’s about his experience with FTX, his thoughts on AI, or his predictions for the Bitcoin market, Harrison certainly provides insider’s insights into the complex world of cryptocurrencies. It remains to be seen how his predictions and his new DeFi venture play out.