FTX’s institutional sales chief steps down, claiming team was in the dark about bankruptcy

On November 8, Zane Tackett, the head of institutional sales at the troubled cryptocurrency exchange FTX, resigned.

The head of institutional sales at FTX, Zane Tackett, informed customers in a letter that his staff was “totally in the dark” on the firm’s impending collapse this week.

He told VIP customers of the troubled crypto exchange of his departure in a message sent late on November 10 and acquired by The Block from two sources.

In response to queries about the letter, Tackett told The Block, “I wanted to make sure customers didn’t have ill will against my staff for assuring them everything was alright while they themselves were in the dark.” “They, too, were misled.”

Following Binance’s announcement that it will sell its ownership in FTX’s native token FTT, the VIP team failed to process withdrawals. According to many sources, these headwinds resulted in conflicts between the FTX leadership and the VIP crew.

Tackett tweeted earlier today that he had cancelled his FTX Slack account. The Block reached out to FTX for comment but had not heard back by 11:30 p.m. ET.

A variety of crypto organizations, ranging from exchanges to venture capitalists, are seeking to withdraw cash from FTX after the company’s shocking collapse earlier this week.

The Wall Street Journal revealed earlier today that FTX has given Alameda Research, its sister trading business, client assets worth billions of dollars.

Also Read: FTX and Tron Have Implemented an Extremely Suspicious Withdrawal Scheme