FTX US Moves HQ To Miami As New President Joins
- Former LedgerX CEO and a major personality in the crypto space, Zach Dexter, has been chosen to officially join the United States branch of Sam Bankman-Fried led crypto exchange as its new president.
- Brett Harrison, who is based in Chicago according to his LinkedIn profile, stepped down from the post earlier on Tuesday.
- Additionally, the US arm of the crypto exchange is officially moving its headquarters from Chicago to Miami, where Mayor Francis Suarez is known for his pro-crypto stance.
After the recent exit of Brett Harrison from crypto exchange FTX US, former LedgerX CEO and a major personality in the crypto space, Zach Dexter, has been chosen to officially join the United States branch of the exchange as its new president.
Dexter has lived in Miami for a long time, and the shift in executive roles coincides with the relocation of FTX U.S.’s headquarters from Chicago to Miami. It is important to note that he joined FTX US in October last year when the exchange finalized its major acquisition deal with LedgerX. At the time, Dexter was the CEO of LedgerX while FTX US was managed by Harrison.
The co-founder and CEO of the exchange Sam Bankman-Fried (SBF) tweeted about the new appointment by stating:
Really grateful to work with [Zach Dexter], [Ryne Miller], and others to push forward in the US; and a heartfelt goodbye to [Brett Harrison] as he transitions to an advisor and FTX US transitions to its Miami HQ!”
Brett Harrison, who is based in Chicago according to his LinkedIn profile, stepped down from the post earlier on Tuesday. In the next months, he said, he will transfer his duties and assume an advisory position at the company.
Bahamas-based crypto exchange started operating from Chicago only in May this year when Mayor Lori Lightfoot marked his presence during the opening ceremony of the 9,000-square-foot office space in the windy city. At the time, Lightfoot lauded FTX US while emphasizing its pilot program that aimed to give Chicago people who don’t have access to banks financial education and supplemental income.
However, since last year, it has been considering relocating to Miami. With its agreement to pay $135 million over 19 years for the naming rights to the Miami Heat’s arena, the exchange has already gained massive recognision among the city’s sports fans.
Apart from FTX, many crypto companies, including eToro and Blockchain.com have expressed interest in Miami due to its business-friendly mayor and favourable tax regime. Interestingly, Miami’s crypto-friendly Mayor Francis Saurez recently accepted his paycheck entirely in Bitcoin.
He welcomed the FTX US’s decision by stating:
“Very honored to have your new US headquarters moving to the MIA. FTX is one of the most innovative companies on the planet and you [SBF] are one of the most innovative technologists. Welcome HOME!”