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.

Read more: Crypto Investor FTX Ventures to Take 30% Stake in SkyBridge Capital