Scaramucci Says Investment Firm SkyBridge Is Exploring Buying Back Equity From FTX
FTX Ventures had a 30% stake in Anthony Scaramucci’s SkyBridge Capital.
Nov 11, 2022 at 2:18 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/4ABUTRR4MBAPHBDXCC4FKSRLQQ.jpg)
Anthony Scaramucci at the SALT Conference (Danny Nelson/CoinDesk)
Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.
SkyBridge's Anthony Scaramucci said the investment firm is working on buying back its equity from Sam Bankman-Fried’s FTX.
In September, FTX's investment arm, FTX Ventures, agreed to buy 30% of SkyBridge for an undisclosed amount. SkyBridge’s plan was to use some of the funds to buy $40 million in cryptocurrencies to hold on its balance sheet as a long-term investment.
In a CNBC interview Friday, Scaramucci added that SkyBridge had no assets in custody on FTX to avoid any potential conflicts of interest.
Scaramucci recommended on CNBC that Bankman-Fried disclose FTX’s events to regulators to clean up the mess. Scaramucci traveled to the Bahamas to speak with Bankman-Fried this week, and left shortly after, he told CNBC.
SkyBridge had been exploring and investing in crypto over the last few years, with the FTX partnership bringing the firm one step deeper into the industry. The firm had also attempted to list a spot bitcoin ETF, though was rejected by the SEC as many issuers still await regulatory clarity on such a product.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)
Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PJTR3KRDWJCRVE3QREM6KUOK7A.png)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/2YBEYYSYUBC7XPEAWP763IKPKA.png)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/EJRBZU6XZ5GAZCOGKM7EVVCFX4.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/HWIQRCPMQRF6BLLQPPHZZ7JIVQ.png)