SBF, Mooch Team Up on FTX Ventures’ 30% Stake in SkyBridge Capital

The companies announced on September 9 that FTX Ventures, a division of FTX cryptocurrency exchange, would buy a 30% investment in alternative asset management SkyBridge Capital. The terms of the agreement were not made public, but SkyBridge stated that it would spend $40 million to buy cryptocurrencies to keep as a long-term investment. Small Universe Of Outside Investors Anthony Scaramucci, the founder and managing partner of SkyBridge, tweeted about the transaction stating SkyBridge would only consider partnering with “a small number of outside investors, and @SBF FTX is one of them.” Separately, he commented, “This won’t significantly impact our day-to-day business and doesn’t change our strategy. We will remain a diversified asset firm while investing heavily in blockchain.” FTX Ventures and @SBF_FTX are acquiring a stake in @SkyBridge. Sam & I have gotten to know each other for the last two years and have partnered together on a few things (including @SALTConference & @CryptoBahamas). We couldn't be more excited about this partnership. pic.twitter.com/jIcKfiDeCl — Scaramucci.algo (@Scaramucci) September 9, 2022 According to its website, SkyBridge, handled nearly $2.5 billion, including more than $800 million in digital assets. Over the last year, the two businesses have worked together on the SALT (SkyBridge Alternatives) Conferences and the Crypto Bahamas conference. Bankman-Fried stated to CNBC, “We’ve gotten to know t...