Tags: anthony scaramucci | skybridge capital | ftx stake

Scaramucci's SkyBridge Looking to Buy Back FTX Stake

Scaramucci's SkyBridge Looking to Buy Back FTX Stake
Anthony Scaramucci attends the 2022 Forbes Iconoclast Summit at the New York Historical Society on Nov. 3, 2022 in New York. (Arturo Holmes/Getty Images)

Friday, 11 November 2022 10:44 AM EST

SkyBridge Capital is working to buy back its stake from embattled crypto exchange FTX, the alternative investment firm's founder Anthony Scaramucci said in an interview with CNBC Friday.

"My legal team and my other partners are working to buy back that stake to take him off of our cap table," he said, referring to Sam Bankman-Fried, FTX's founder.

SkyBridge has no assets under custody at FTX, according to Scaramucci. "We thought that was a potential conflict of interest."

Still, he said the firm has had to mark some assets down given the steep decline in cryptocurrencies prices.

In September, FTX announced it had bought a 30% stake in Scaramucci's $2.2 billion firm, which manages over $800 million in digital-related assets.

Scaramucci said he went to the Bahamas on Tuesday to meet Bankman-Fried and try to help rescue the crypto exchange. He left in the afternoon, after realizing there was not much he could do. "Perhaps there was more going on than it being a rescue situation."

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
SkyBridge Capital is working to buy back its stake from embattled crypto exchange FTX, the alternative investment firm's founder Anthony Scaramucci said in an interview with CNBC Friday.
anthony scaramucci, skybridge capital, ftx stake
166
2022-44-11
Friday, 11 November 2022 10:44 AM
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