Scaramucci’s SkyBridge Reportedly Acquired $10M of FTT in Acquisition Deal With FTX

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SkyBridge Capital, the asset management company of American millionaire trader Anthony Scaramucci, marketed 30% stakes to the now-bankrupt Sam Bankman-Fried’s crypto empire FTX in September ahead of the exchange’s sudden liquidity disaster earlier this thirty day period at an undisclosed amount of money.

Having said that, the financial commitment came with a catch as the fund manager was required to obtain FTX token (FTT), the native cryptocurrency of the FTX exchange. The shift aimed to improve the token’s cost, individuals acquainted with the make any difference claimed. 

SkyBridge Spent $10M on FTT Purchase

According to reports, Scaramucci invested $10 million in FTT to honor the offer with FTX founder Sam Bankman-Fried (SBF), who resigned from his CEO placement right after the agency filed for Chapter 11 individual bankruptcy proceedings at a United States court docket previously this thirty day period.

SkyBridge disclosed it would use a part of the resources it received from FTX to buy $40 million worthy of of digital assets to insert to its balance sheet as a long-term financial investment. 

Even so, with FTX now below the h2o, Scaramucci intends to buy back again the 30% fairness procured by the exchange after his unsuccessful makes an attempt to rescue the trading platform. 

“My lawful workforce and my other partners are functioning to get back again that stake to choose him off of our cap table,” Scaramucci said, referring to SBF.

Scaramucci Urges SBF to Tell the Real truth

The American went on a rescue mission earlier this 7 days to the Bahamas to meet up with SBF and remaining right after realizing the real point out of the circumstance. 

“And then when I obtained to the Bahamas, it became crystal clear, at least from some of the people today that labored on the legal and compliance workforce, that perhaps there was much more heading on than it remaining a rescue scenario. So when I still left the Bahamas in the afternoon, I was basically distressed,” explained Scaramucci. 

In the aftermath of the conference, the SkyBridge CEO urged SBF to convey to traders and regulators the reality about FTX’s collapse. Scaramucci explained he wishes to hold out right before contacting the FTX debacle a fraud, noting that no 1 definitely appreciates what is taking place in the organization. 

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