Ex-LedgerX CEO Zach Dexter Named President Of FTX US After Brett Harrison's Exit

Former LedgerX CEO Zach Dexter will officially join FTX US, the U.S. arm of crypto exchange FTX, as its new president. Dexter will succeed Brett Harrison who stepped down from the post Tuesday.

Harrison will now move to an advisory role at the firm.

"Really grateful to work with @zachdex, @_Ryne_Miller and others to push forward in the US; and a heartfelt goodbye to @Brett_FTX as he transitions to an advisor and FTX US transitions to its Miami HQ!" CEO and co-founder Sam Bankman-Fried tweeted. "Being agile and coordinated is a core value--it'll be great to be together."

Harrison, who joined FTX US as its president after spending two years at global market maker Citadel Securities, officially stepped down from his position Tuesday. Derivatives platform LedgerX, now FTX US Derivatives, was acquired by FTX US last year.

Moreover, the Bahamas-based crypto exchange is also moving its U.S. headquarters to Miami from Chicago.

FTX US started operating from the windy city only in May. Mayor Lori Lightfoot attended the opening ceremony of its 9,000-square-foot office space in downtown Chicago. At the time, Lightfoot praised FTX US while touting a pilot program sponsored by the crypto exchange, which was aimed at providing supplemental income and financial education for Chicago residents who do not have access to banks.

"Very honored to have your new US headquarters moving to the MIA. @FTX_Official is one of the most innovative companies on the planet and you @SBF_FTX are one of the most innovative technologists. Welcome HOME!" said Miami Mayor Francis Suarez.

Interestingly, Miami has now become a crypto hub due to the pro-crypto stance of Mayor Suarez, who reportedly accepted his paycheck entirely in Bitcoin.