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FTX Investment Arm Buys 30% Stake in Anthony Scaramucci’s Skybridge Capital As Expansion Spree Continues

FTX Investment Arm Buys 30% Stake in Anthony Scaramucci’s Skybridge Capital As Expansion Spree Continues

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The investment arm of Samuel Bankman-Fried’s crypto derivatives exchange FTX buys a substantial stake in Anthony Scaramucci’s SkyBridge Capital.

Former White House Communications Director was revealed that FTX Ventures buys a 30 percent stake in the alternative investment company.

“FTX Ventures and [FTX] are acquiring a stake [SkyBridge Capital]. Sam and I have gotten to know each other over the past two years and have collaborated on a few things (including the SALT Conference and Crypto Bahamas). We couldn’t be more excited about this partnership.

There is a small universe of outside investors SkyBridge could ever consider partnering with, and Sam Bankman-Fried is one of them. Sam is the real deal and I think he’s building FTX into the Amazon of financial services. He even makes me dress like a millennial.”

SkyBridge says it will use some of the proceeds from the sale to buy $40 million worth of cryptocurrencies as a long-term investment. The company says it is currently profitable and debt-free despite the crypto-calculation.

In a new press release, Bankman-Fried says the purchase of FTX Ventures is based on her relationship with Scaramucci.

“After working with Anthony and his team following our SALT conference partnership, we saw an opportunity to work more closely together in ways that could complement both of our businesses. We look forward to working closely with SkyBridge on their crypto investment activities and working with them on promising non-crypto investments as well.

The deal follows FTX’s investments in the crypto space in an effort to boost the industry, including a $250 million deal with lending platform BlockFi.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that transfers and trades are at your own risk, and any losses are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/Yurchanka Siarhei



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