Cryptocurrency exchange operator FTX.US has hired former Citadel Securities manager Brett Harrison as its first president.
Harrison will be responsible for “massively expanding” FTX.US, said Sam Bankman-Fried, CEO of FTX.US, in a statement Thursday. Harrison’s expertise lies in commercial technology development. In his most recent position at Citadel Securities, Harrison was Head of Semi-Systematic Technology, overseeing a team of more than 100 engineers.
Bankman-Fried highlighted Harrison’s technical skills and business acumen. The duo previously worked for three years at proprietary trading company Jane Street.
Developing FTX.US “the most trusted digital currency trading platform and exchange in the US market” will be Harrison’s primary goal in the new role, the exchange operator said.
FTX.US was launched in May 2020, but trading volume has remained subdued compared to the main exchange, FTX, which hired a former forex sales director from HSBC earlier this month. In the past 24 hours, according to CoinGecko, FTX.US has only processed a volume of about $ 185 million, compared to the trading volume of nearly $ 2 billion made possible by the main exchange.
The Binance and Binance.US crypto exchanges are in a similar situation. This is likely one of the reasons Binance.US recently hired Brian Brooks, former head of the Office of the Comptroller of the Currency and Chief Compliance Officer of Coinbase, as CEO.
Both Binance and FTX.US appear to have plans to take over leading US crypto exchanges like Coinbase and Kraken.