Anthony Scaramucci's SkyBridge Capital Lost Almost 40% after FTX Crash: Report
Main page News, US Market, Stocks, FTX

Anthony Scaramucci's investment venture firm SkyBridge Capital lost 39% of capital in one of its funds after FTX went bankrupt, Bloomberg reports.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

The report notes that the firm's clients asked to redeem at least 60% of shares in 2022. However, they only got back 10%. Prior to that request, SkyBridge Capital allowed four redemption requests per year and promised to return as much as 25% on a quarterly basis.

Scaramucci had close ties with the now-bankrupt crypto exchange as in September last year he announced that FTX's venture arm, FTX Ventures, would buy a 30% stake in SkyBridge Capital.

FTX's Lawyers Ask Court to Question Bankman-Fried's Relatives Under Oath

After FTX collapsed, Scaramucci said that his legal team and other partners were "working to buy back that stake to take him [FTX Founder Sam Bankman-Fried] off of our cap table." It is unclear if those efforts paid off as FTX owes over $3 billion to the top 50 creditors.

Recall that the SkyBridge Multi-Adviser Hedge Fund Portfolios Series G fund has approximately 10% of its capital in bitcoin (EXANTE: Bitcoin). According to Scaramucci, even if the cryptocurrency grows, the firm does not intend to increase this holding, but is ready to "scale into other things."

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error