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SkyBridge Capital founder to invest in crypto firm founded by former FTX US president

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SkyBridge Capital founder to invest in crypto firm founded by former FTX US president

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  • Anthony Scaramucci, the founder of SkyBridge Capital, told Bloomberg that he is going to invest in a crypto company founded by the former president of FTX US.
  • This new venture was announced only three weeks after the collapse of the cryptocurrency exchange FTX.

Anthony Scaramucci, the founder of SkyBridge Capital, told Bloomberg that he is going to invest in a crypto company founded by the former president of FTX US.

He stated that he would be investing his own personal funds to support the new venture of ex-FTX U.S. president Brett Harrison. This new venture was revealed only three weeks after the collapse of the cryptocurrency exchange FTX.

As per reports, the unnamed crypto software company will allow crypto traders to develop algorithmic-based strategies for accessing various markets, both centralized and decentralized. Harrison is also said to be looking for a fundraising target of up to $10 million for a $100 million valuation.

Both Scaramucci and Harrison expressed their enthusiasm about the partnership on Twitter.

Harrison’s new crypto venture

Scaramucci’s capital investment and stake in the company, however, were not disclosed. Harrison’s new crypto venture was first hinted at on 27 September last year, when he announced his resignation as president of FTX US.

He announced at the time that he was stepping down as president but would remain with the exchange in an advisory role for the next few months.

Harrison revealed in his most recent Twitter thread that he left the firm after his relationship with Bankman-Fried abruptly deteriorated and that the difficulties caused him to shift his focus to his own company.

Meanwhile, Scaramucci remains optimistic about the recovery of the crypto market this year, describing the market outlook for 2023 as amazing.

“You are taking on risk but you’re also believing in [Bitcoin] adoption. So if we get the adoption right, and I believe we will, this could easily be a fifty to one hundred thousand dollar asset over the next two to three years,” Scaramucci said in a CNBC interview.

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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