Zach Dexter will move up from heading FTX’s U.S. derivatives unit to take over the entire operation in the wake of president Brett Harrison’s departure, a person with direct knowledge of the matter told The Block.
The transition comes as FTX U.S. moves its headquarters from Chicago to Miami. Dexter is a longtime resident of Miami, the person said. He joined FTX U.S. in October 2021 when the company finalized its acquisition LedgerX, where he was CEO.
Harrison, who is based in Chicago according to his LinkedIn profile, announced his resignation from the president role earlier today. He said he will transfer his responsibilities and move into an advisory role at the company over the next few months.
FTX U.S. did not immediately respond to The Block’s request for comment.
FTX U.S. had been looking to move to Miami since last year, The Block reported. The company already had name recognition amongst the city’s sports fans after last year securing the arena naming rights of the National Basketball Association’s Miami Heat for $135 million over 19 years.
Miami has caught the attention of crypto firms like Blockchain.com and eToro due to its business-friendly mayor and attractive tax environment.
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