FTX.US CEO, Brett Harrison, will step down as the exchange's head and will work in the company as an advisor. Harrison wrote in a Twitter thread that the transition process will take a few months, but declined to reveal who will replace him on the role.
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He added that he's remaining in the industry with the goal of "removing technological barriers to full participation in and maturation of global crypto markets, both centralized and decentralized." Until the end of the year, Harrison will work with FTX CEO, Sam Bankman-Fried, assisting him and the team with the transition.
Earlier in August, the Federal Deposit Insurance Corporation (FDIC) ordered FTX.US to stop making "false representations" suggesting that the exchange's services might be FDIC-insured. The FDIC said that Harrison misled investors, when he said in a tweet that "stocks are held in FDIC-insured SPIC-insured brokerage accounts."
Harrison responded to the accusations, saying that the exchange was never trying to mislead investors. However, later he deleted that tweet.
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