Skybridge Capital aims to Purchase the Shares it Sold to FTX

As per its founder, Anthony Scaramucci, SkyBridge Capital would be able to buy back the 30% interest it sold to FTX in the coming months.

Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, a global alternative investment firm, claimed that his company might re-acquire a significant amount of shares which it previously sold to the insolvent cryptocurrency exchange FTX in the coming months.

Additionally, he accused the platform’s former CEO, Sam Bankman-Fried (SBF), of fraud. Scaramucci expressed optimism in a recent interview with CNBC that SkyBridge Capital would be able to buy back the 30% interest it sold to FTX. 

When all pertinent parties have provided information regarding the closure of the trading platform, the proceedings will be initiated. Scaramucci, the former White House communications director, said: 

“We’re waiting for clearance from the bankruptcy people, the lawyers, and the investment bankers to figure out exactly what we’re going to be buying back and when.”

According to a CNBC report that was published in September last year, FTX Ventures would buy a thirty percent investment in SkyBridge. At the time of the purchase, the New York-based international investment company Skybridge said it would spend $40 million, a part of the stock revenues, to repay prior investors and boost its balance sheet.

Skybridge Founder wants the Legal System to Intervene

Notably, FTX was on a buying and investment binge at that time, making offers to purchase the shares of numerous businesses that were struggling to flourish. BlockFi and Voyager Digital, two struggling cryptocurrency services, were among them. 

In an effort to help the troubled firms and to help the market for digital assets stabilize, the exchange’s CEO stated in July that FTX has a “few billion” dollars available

However, following the collapse of the FTX and several disclosures regarding the crypto exchange, Scaramucci claimed that “it’s very clear now that there was fraud” and added that “we have to let the legal system determine all of those things.” 

It’s interesting to note that although it was thought that SBF and Scaramucci were close friends, it now appears that this wasn’t actually the case.