SkyBridge founder plans to buy back 30% stake FTX, appeals to SBF to come clean

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Sky­Bridge Cap­i­tal founder Antho­ny Scara­muc­ci told CNBC on Fri­day that the com­pa­ny is try­ing to buy back the stake FTX had acquired in the alter­na­tive invest­ment firm.

“We’re in a worse posi­tion because of the fact that we made the deci­sion to have Sam join the cap table at Sky­Bridge,” Scara­muc­ci said. “There’s no ques­tion that we’re in a worse posi­tion. He’s hurt the industry.”

The invest­ment arm of FTX, FTX Ven­tures, agreed to buy 30% of Sky­Bridge in Sep­tem­ber. FTX Ven­tures pro­vid­ed Scaramucci’s fund with cap­i­tal to expand, build new prod­ucts, and intro­duce cryptocurrencies. 

The com­pa­ny planned to invest $40 mil­lion of the funds in cryp­tocur­ren­cies over the long run to hold on to its bal­ance sheet. How­ev­er, due to the steep fall in the price of cryp­tocur­ren­cies, the firm had to mark down some assets.

More­over, Scara­muc­ci con­firmed that Sky­Bridge does not have assets under cus­tody at FTX, cit­ing the poten­tial con­flict of interest.

“Stop 22 tweets…explain exactly what happened”

As part of his CNBC inter­view, Scara­muc­ci sug­gest­ed that Bankman-Fried and his fam­i­ly make FTX’s events pub­lic to clar­i­fy matters. 

“Stop 22 tweets, but get them­selves in front of a reg­u­la­tor and explain exact­ly what hap­pened,” Scara­muc­ci told CNBC. “If there was a fraud, let’s clean it up to the extent pos­si­ble and repair the accounts FTX has.”

The Sky­Bridge CEO has been an out­spo­ken sup­port­er of cryp­tocur­ren­cies and has guid­ed the com­pa­ny into sev­er­al new cryp­to offer­ings since late 2020. The firm had also tried to list a spot bit­coin ETF ear­li­er, but the SEC reject­ed it because of unclear regulations.



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