Former FTX US president Brett Harrison has lashed out at Sam Bankman-Fried for manipulating and intimidating colleagues who proposed solutions to reorganize FTX US’s management structure.
Harrison share Describing his experience at Bankman-Fried and FTX US on Dec. 14, he was hired out of the blue in March 2021 after several years working together at New York-based trading firm Jane Street. is explained.
But after Harrison’s six months with FTX US, “a rift began to form” between the two, he said.
Initially, Bankman-Fried was “a sensitive, intelligent and curious person”, but when faced with conflict, Harrison, in particular, suggested that FTX US establish a separate chapter for its officers. Bankman-Fried said he saw “complete anxiety and uncompromising” when he did. Developers and legal team.
16/49 I saw in that early conflict his utter insecurity and uncompromisingness when his decisions were called into question, his malice, and the instability of his disposition. I realized he wasn’t the person I remembered.
Brett Harrison (@BrettHarrison88) January 14, 2023
Harrison added that he “doesn’t know what caused the drastic change” in Bankman-Fried’s erratic behavior, but speculated that mental health issues may be “a contributing factor.”
Some of that irrational behavior Harrison describes includes a series of gaslighting and manipulation tactics Bankman-Fried used against Harrison and other colleagues to clean up corporate chaos at FTX US. It was
Harrison also recalled his last attempt to fix FTX US’ organizational problems with Bankman-Fried, claiming he threatened to “damage my professional reputation” if he did not receive a formal apology.
29/49 In response, I was threatened on behalf of Sam that he would fire me and ruin my professional reputation. I have been instructed to formally retract what I have written and apologize to Sam who drafted it for me.
Brett Harrison (@BrettHarrison88) January 14, 2023
Harrison said the event “hardened” his decision to leave.
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Regarding the current fraud charges against Bankman-Fried and other FTX colleagues, Harrison said he was dazzled by the company’s alleged misuse of billions of dollars in customer funds.
“Underlying this kind of problem is that I’ve seen it in other, more mature companies in my career and believed it wasn’t fatal to business success, but billions of dollars. I couldn’t imagine it being a dollar scam.”
“If any of us suspected the truth, let alone knew it, we would have reported it immediately,” he added.
Bankman-Fried was granted bail after posting a bond of $250 million and pleading not guilty to all eight criminal charges filed on January 3.
Harrison stepped down as FTX US president on Sept. 27, saying he moved to an advisory role about five weeks before FTX’s catastrophic collapse.