FTX Investment Arm buys 30% stake in Skybridge Capital from Anthony Scaramucci as expansion spree continues

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The investment arm of FTX, Samuel Bankman-Fried’s crypto derivatives exchange, is buying a large stake in SkyBridge Capital from Anthony Scaramucci.

Former White House communications director revealed that FTX Ventures is acquiring a 30% stake in the alternative investment firm.

“FTX Ventures and [FTX] take a stake in [SkyBridge Capital]. Sam and I have gotten to know each other over the past two years and have partnered up on a few things (including the SALT conference and Crypto Bahamas). We couldn’t be more excited about this partnership.

There is a small universe of outside investors that SkyBridge would consider partnering with, and Sam Bankman-Fried is one of them. Sam is the real deal and, in my opinion, is building FTX into the Amazon of financial services. He even makes me dress like a millennial.

SkyBridge says it will use some of the proceeds from the sale to buy $40 million in cryptocurrency to hold as a long-term investment. The company claims that it is currently profitable and debt-free despite the crypto downturn.

In a new press release, Bankman-Fried says the purchase by FTX Ventures builds on its relationship with Scaramucci.

“Having worked with Anthony and his team following our partnership with SALT Conference, we saw an opportunity to work more closely together in a way that complements our two businesses. We look forward to working closely with SkyBridge on its crypto investment business and to also work alongside them on promising non-crypto related investments.

The deal follows FTX’s wave of investments in the crypto space in an effort to bolster the industry, including a $250 million deal with lending platform BlockFi.

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Feature image: Shutterstock/Yurchanka Siarhei

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