Former president of FTX US: It is time for everyone to move on from Sam Bankman-Fried

Updated: 04 February 2023

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Sam Bankman-Fried, the former CEO of one of the world’s most popular exchanges, FTX, lost his reputation following the collapse of the exchange back in November 2022, when it filed for bankruptcy.

Since then, the entire crypto world has been keeping a close eye on what happened to him, from his arrest in the Bahamas to his transfer to the United States, release on bail, house arrest, as well as the specifics of the investigation involving him and the exchange. However, as far as Brett Harrison, the former president of FTX US, is concerned, it is time to move on from SBF.

In a recent interview, he said as much, noting that it is time,

For me and for everyone — the media, the public, investors, everyone — to move forward from Sam and find a path forward with crypto and this industry.

"Move on from Sam."

Former FTX US President Brett Harrison said that it's time for everyone to move on from Sam Bankman-Fried and find a path forward with crypto https://t.co/ROhvkEhO8H pic.twitter.com/9JmVbyADGd

— Bloomberg Crypto (@crypto) February 4, 2023

Many in the community are highly skeptical of his statement, speculating that he was fully aware of what was going on. They see this statement as a way to discourage further attention to the case and the investigation.

I'd tell people to move on too if there were Billions of dollars missing

— Stock Strategy (@stockstrategy) February 4, 2023

Is it too early to turn a new leaf?

At this point, it has been less than three months since the exchange’s collapse, and the authorities are calling it one of the biggest financial frauds in American history. Even so, and despite being the public face of FTX in the US, Harrison claims that he had no clue about SBF and his inner circle and their illicit moves involving customers’ funds.

In fact, he insists that he is just as much a victim as the others, as he allegedly purchased hundreds of thousands of dollars worth of crypto in 2021, which he is now unable to access.

He also used this opportunity to shed light on his new startup — a software firm that aims to make it easier for major Wall Street players to get into the crypto industry. So far, he has attempted to raise money from some of the regular supporters of new crypto businesses targeting institutions such as Coinbase and Circle, but he raised only $5 million out of the $10 million that he was initially targeting.

Still, the fact that he managed to raise anything after his involvement with FTX was taken by many as proof that the industry is, indeed, ready for a fresh start. Harrison also said that the crypto winter was “chilly for everyone,” and the fact that large and well-known investors are getting excited about crypto again is giving people hope.

Of course, there are also those who believe that it takes audacity, and even denial, to try to turn the page while the shockwaves of the FTX collapse are still being felt, and especially while the entire incident is still shrouded in uncertainty.

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