Harrison, former head of the u.s. division of the collapsed crypto exchange ftx, was involved in the ftx meltdown, which occurred a few weeks after he stepped down from his position. harrison had joined ftx in may 2021 from capital markets firm citadel securities, with a mission of helping to build out its u.s. presence. he established the american subsidiary of ftx with a headquarters in chicago, and his initial tweet that attracted responses asked why some smaller firms don’t go public earlier.
Ftx meltdown occurred at the end of september last year, when ftx declared bankruptcy and revealed billions of dollars worth of missing customers’ funds. federal prosecutors said they expect to produce thousands of documents from ftx debtors, investors, and individual employees. ftx founder bankman-fried, also known as sbf, faces eight criminal charges, ranging from fraud to conspiracy to commit money laundering, and former alameda research ceo caroline ellison and ftx cto gary wang have both pleaded guilty to fraud charges in cooperation agreements with the u.s. government.
Cause of the ftx meltdown is still under investigation. harrison himself has not been accused of any wrongdoing and responded to a twitter post by stating he would share in time what he knew about the firm. to the inquiry of if he expects to face any jail time, harrison responded: “use powers of inference.” the discovery process for ftx is still ongoing.
https://decrypt.co/118697/former-ftx-us-president-promises-share-more-information-in-time
