Mathisen Marketing

Your Marketing Blog

FTX Ventures to take 30% stake in SkyBridge Capital: CNBC

FTX Ventures to take 30% stake in SkyBridge Capital: CNBC

As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Sam Bankman-Fried’s FTX Ventures continues its investment activities and acquires a 30 percent stake in the investment company SkyBridge Capital led by Anthony Scaramucci. CNBC report today.

SkyBridge will use part of the funding to invest $40 million in crypto investments to keep on its balance sheet as a long-term investment, according to the report.

According to the press release, FTX Ventures’ investment also provides SkyBridge with additional working capital to finance growth initiatives and new product launches.

The agreement is the latest series of cooperation between the companies. They previously signed a multi-year partnership to sponsor global SALT conferences and be a part of the Crypto Bahamas presentation.

“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 its crypto investment activities and working with them on promising non-crypto investments as well,” said Banker-Fried.

Founded in 2005, SkyBridge moved into crypto during the bull run and was affected by the recent downturn in the crypto market. According to Bloomberg, after a sharp decline in July, SkyBridge suspended redemptions from one of its funds that had exposure to FTX.

However, according to the company, SkyBridge is still profitable and debt-free despite the market conditions.

Scaramucci remains bullish on bitcoin for the long term despite short-term difficulties. In July, it was announced that the company plans to introduce a web3-focused fund as well.

This article has been updated to include additional information.

© 2022 The Block Crypto, Inc. All rights reserved. This article is for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.

Source: https://www.theblock.co/post/168848/ftx-ventures-to-take-30-stake-in-skybridge-capital-cnbc?utm_source=rss&utm_medium=rss



Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Source link

Leave a Reply

Your email address will not be published.

Latest Posts

  • BitConnect Founder Facing Nearly a Life Time Behind Bars

    BitConnect Founder Facing Nearly a Life Time Behind Bars

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase The Department of Justice has indicted the man behind the largest cryptocurrency Ponzi scheme. After more than 4 years since the infamous BitConnect scam, the person responsible has still not been found. The creator of Bitconnect, Satish Kumbhani, has been […]

    Read More

  • Monthly Fees Mandated on Crypto Firms in Uzbekistan

    Monthly Fees Mandated on Crypto Firms in Uzbekistan

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase 9 seconds ago | 2 minutes after reading Bitcoin news The country’s primary crypto watchdog law is now in place. The lowest cost, $135, goes to detention service providers. Uzbek authorities recently passed a law requiring cryptocurrency companies to pay […]

    Read More

  • Bitcoin price starts ‘Uptober’ down 0.7% amid hope for final $20K push

    Bitcoin price starts ‘Uptober’ down 0.7% amid hope for final $20K push

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Bitcoin (BTC) failed to hold $20,000 to close the month of September as one trader eyed a final bounce before another decline. BTC/USD 1 Hour Candlestick Chart (Bitstamp). Source: TradingView Trader’s upside target of $20,500 remains Data from Cointelegraph Markets […]

    Read More