Oct 9, 2023

SkyBridge Capital founder and managing partner Anthony Scaramucci explains why it has been "heartbreaking" watching FTX founder Sam Bankman-Fried's trial unfold.

Video transcript

It's been absolutely heartbreaking. You know, I, uh, you know, II I, I'll, I'll take you back, I'll take you back to November the eighth, which was, uh Tuesday and I arrived in the Bahamas, uh, to learn firsthand what was actually going on and how the funds were used and how they got wired around. And, uh, you know, I mean, I was shocked, then saddened, uh, angered all that sort of stuff. I'm now way past all of that and I'm now in the, uh, the zone that this was fraud and it was done by people who are fraudulent. Ok. And so what bothers me about the whole thing is that it's getting blamed on crypto and it hurts the reputation of crypto investing web three. Excuse me, the whole, uh, thought of where we could go from a technical innovation point of view. Um And so, you know, this will go on now, probably until Christmas. Um, you know, Sam is obviously playing the probability that if there's just one out of those 12 jurors that doesn't understand the case or can somehow sympathize with him. Uh He's hoping to get off, I don't think that will happen. Uh But things happen, what we learn about jury cases is none of us know it's a little bit of like of a coin toss in terms of what happens. Uh Despite what the facts might be guys. So yeah, but I'm saddened by the whole thing. It's not, it's not, you know, I'm not looking for anything other than getting this behind us so that we can focus on all the great things that are happening in the industry.

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