Former Trump Adviser Scaramucci’s SkyBridge Capital Offers Investors Stake in Kraken

The exchange is planning to go public next year.

AccessTimeIconOct 26, 2021 at 5:46 p.m. UTC
Updated May 11, 2023 at 3:48 p.m. UTC

SkyBridge Capital – the money management firm that’s run by Anthony Scaramucci, who was briefly a White House communications director under then-President Donald Trump – is privately offering investors the chance to invest in Kraken as the U.S. cryptocurrency exchange plans to go public next year.

In an email to investors, SkyBridge said it is purchasing preferred stock from an early investor on behalf of its funds and clients “in one of our largest private market investments to date.”

“We believe we have secured an attractive valuation (approximately $10.5 billion relative to the reported $10 billion valuation from the company’s last round over seven months ago),” according to the email, which was seen by CoinDesk.

The terms for investment state that qualified purchasers must have a minimum investment of $250,000 and there will be a 4% upfront purchase fee, 20% incentive fee and 8% hurdle upon exit.

A SkyBridge press official declined to comment.

Kraken has 9 million customers worldwide and facilitates over $1.6 billion in spot trading volume per day, according to the email.

SkyBridge’s plan comes as Kraken has signaled it’s moving forward with a plan to go public in 2022, following rival Coinbase’s successful direct stock listing earlier this year. Coinbase has a market capitalization of $68 billion, according to Google Finance.

Bloomberg reported in February that Kraken was in talks to raise new capital at a $10 billion valuation.

In May, Dan Held, director of growth marketing at Kraken, told CoinDesk that “everything seems to still be on track for a direct listing sometime in 2022.”

Kraken CEO Jesse Powell told Fortune magazine in June that the company might go public via an initial public stock offering instead of a direct listing.

A Kraken spokesperson declined to comment.


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.

CoinDesk - Unknown

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.