FTX and Skybridge Capital announced last Friday that FTX has acquired a 30 percent stake in Skybridge, an asset management company managed by Skybridge Anthony Scaramucci.
On Monday, Scaramucci provided more details about the deal at SALT New York.
What happened: Skybridge currently has approximately $2.8 billion in assets under management. According to Scaramucci, the company plans to use the capital raised from the FTX transaction to purchase more crypto assets.
Scaramucci believes that combining his financial experience and connections with Sam Bankman-Fried’s crypto infrastructure will result in a profitable partnership for both parties.
“I think Sam is a visionary and one of the most influential people in the business,” Scaramucci said.
Although Bankman-Fried and Scaramucci agreed that the two companies could benefit from a partnership, they had different ideas about how much equity Bankman-Fried could acquire. FTX bought ailing crypto exchange BlockFi in June.
“He [Bankman-Fried] likes to go big. 100% of someone’s company. I was thinking 15%, we agreed on 30% but he has the right to buy up to 85%. We hope this is a decade-long relationship,” Scaramucci said.
He also spoke about how the partnership could help bridge the gap between two different generations of investors as Scaramucci approaches 60 while Bankman-Fried turned 30 in March. Scaramucci can help Bankman-Fried reach institutional investors, and Bankman-Fried in turn can help Scaramucci attract younger investors.
SALT New York is a conference that brings together thought leaders from the fields of finance, technology and geopolitics. Bankman-Fried and Scaramucci opened Monday morning’s SALT conference with a panel discussion of Bankman-Fried’s vision for the future.
The conference will be guests alongside Bankman-Fried and Scaramucci Mike Novogratz, CEO of Galaxy Investments, President of Ukraine Volodymyr Zelenskyy (virtual) and other special guests.
Photo: Eóin Noonan/collision via Sportsfile via
