Monday, January 30, 2023

Former FTX US President lashes out at ‘insecure’ SBF in 49-part Twitter thread rant

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Former FTX US President Brett Harrison has lashed out at Sam Bankman-Fried for manipulating and threatening colleagues who proposed options to reorganize FTX US’ administration construction. 

Harrison shared his experiences with Bankman-Fried and FTX US on Dec. 14, explaining how he was employed “casually over textual content” in March 2021 after working collectively at New York-based buying and selling agency Jane Avenue for a couple of years.

However six months into Harrison’s tenure at FTX US, “cracks started to type” between the 2, he mentioned.

Regardless of recalling Bankman-Fried to be a “delicate and intellectually curious individual” at first, Harrison mentioned he noticed “whole insecurity and intransigence” in Bankman-Fried when confronted with battle, significantly when Harrison urged FTX US set up separate branches for its govt, developer and authorized groups.

Harrison added that he “wasn’t certain what accounted for the dramatic change” in Bankman-Fried’s erratic habits, although he suspected psychological well being points could have been a “contributing issue.” 

A part of that irrational habits Harrison describes included a collection of gaslighting and manipulation ways Bankman-Fried used towards Harrison and different colleagues of their bid to wash up FTX US’ company mess.

Harrison additionally recalled his final try to repair FTX US’ group points with Bankman-Fried, claiming that he threatened to “destroy my skilled fame” if a formally apology wasn’t obtained:

Harrison mentioned that occasion “solidified” his determination to depart.

Associated: FTX ex-staffer: Extravagant expenditures and cult-like worshipping of SBF

As for the fraud expenses now laid towards Bankman-Fried and different FTX colleagues, Harrison mentioned he was blinded by the agency’s alleged commingling and misuse of billions of {dollars} of buyer funds:

“I by no means may have guessed that underlying these sorts of points — which I’d seen at different extra mature companies in my profession and believed to not be deadly to enterprise success — was multi-billion-dollar fraud.”

“If any considered one of us had suspected not to mention discovered the reality, we might have reported them instantly,” he added.

Bankman-Fried was granted bail after posting a $250 million bond guarantee and pleading not guilty to all eight criminal charges laid towards him on Jan. 3.

Harrison stepped down as FTX US President on Sept. 27 — about 5 weeks earlier than FTX catastrophically collapsed — the place he said that he moved into an advisory position.