Anthony Scaramucci Urges Former FTX CEO To “Open Up”
The industry-wide debate about the fall of the FTX Group and its impact on the crypto ecosystem continues. However, the founder of SkyBridge Capital and ex-White House Director of Communication, Anthony Scaramucci, has urged the embattled CEO Sam Bankman-Fried (SBF) to open up about the crash of his business empire.
“Tell the Truth” Scaramucci Urges SBF
In a recent interview with CNBC, the SkyBridge founder called on the former boss of FTX to tell the world how FTX’s high-profile collapse happened. SBF resigned the same day after announcing that the exchange had filed for bankruptcy.
Scaramucci stated that he had visited the CEO in the Bahamas in the past week, intending to lend a helping hand. However, the former White House head of communication thought the industry could manage the situation.
Furthermore, he noted that helping the troubled exchange would benefit the entire crypto industry. The SkyBridge CEO added, “At the Bahamas, hearing from some individuals’ handling the legal and compliance business became clearer.”
However, there was more to it than just a mere rescue move. After leaving the Bahamas later in the day, the situation appeared gloomy.”
Amid the rumors that FTX’s business model was a fraud, Scaramucci hinted at the legal interpretation associated with the term but declined to say much. Instead, he stressed that, based on legal principles, every suspect has a presumption of innocence.
However, the SkyBridge boss admitted to being “distressed” as the series of events unfolded and asked SBF to speak about the exchange’s challenges.
“I implore SBF and his team to tell investors the truth, get to the root of the matter, stop all the numerous tweets, and engage the regulator to clarify what happened.”
Meanwhile, Scaramucci explains that he intended to buy back SkyBridge’s equity sold to FTX at the beginning of the year. He further lamented the faith he and other venture capital players have in SBF, alongside other users worldwide who trusted the exchange with their funds.
Skybridge Capital’s Crypto Foray
The Anthony Scaramucci-led firm is a registered business platform with the U.S. Securities and Exchange Commission (SEC). Although the company provides investment consultancy services, it is also an investment portfolio manager dealing with hedge funds, crypto assets, equity, and real estate.
In January 2021, the firm launched its Bitcoin product, named SkyBridge Bitcoin Fund LP. The investment tool provides wealthy investors with institutional-level exposure to Bitcoin.
In April 2022, SkyBridge said it had deployed tons of cash to other hedge fund investments, private tech firms, and real estate. Interestingly, the firm is among a handful of crypto-based businesses striving to get the SEC to approve its physical Bitcoin exchange-traded fund (ETF).
The SEC has so far rejected several requests by crypto exchanges to launch several categories of Bitcoin ETF for the American market. As a result, SkyBridge Capital has emerged as one of the fastest-growing firms in the crypto industry. Its expansion continues despite the current market decline.
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