SkyBridge Capital CEO Anthony Scaramucci recently announced that his firm can repurchase the stake it sold to FTX Ventures back in September. This move comes after FTX filed for bankruptcy in November. Scaramucci stated that SkyBridge is in the process of buying back the stake, with a resolution expected by the end of the first half of this year. He also hinted at possible fraud committed by former FTX CEO Sam Bankman-Fried, pointing out that several individuals have already pleaded guilty to their actions.
Despite previously refraining from using the term “fraud,” Scaramucci now believes there was foul play involved in the FTX situation. He emphasized the need for legal authorities to investigate and determine the truth behind the matter. SkyBridge had $2.2 billion in assets under management as of September 2022, with a significant portion allocated to digital assets. Scaramucci’s recent statements signal a change in attitude towards the FTX debacle and a willingness to take action to mitigate any losses.
On the other hand, Galaxy Digital CEO Mike Novogratz expressed frustration towards SBF and Digital Currency Group CEO Barry Silbert for their alleged actions during the crypto winter. Novogratz revealed that Galaxy incurred a $77 million loss due to the FTX incident, leading him to contemplate physical retaliation against SBF and Silbert. While acknowledging his emotional response, Novogratz remains optimistic about the future of the crypto industry and his continued support for digital assets.
Novogratz admitted that he should have cashed out more capital earlier in 2022 before the collapse of FTX and the Terra/LUNA ecosystem. Despite these setbacks, he managed to secure over $1 billion before the market downturn. Novogratz’s candid remarks reflect the challenges faced by industry players during volatile periods and the need for strategic decision-making to navigate uncertain times. As the crypto market evolves, leaders like Scaramucci and Novogratz are adapting to changing dynamics and seeking opportunities for growth and stability.
Both Scaramucci and Novogratz’s responses highlight the complexity and risks associated with the crypto industry. As regulations tighten and market conditions fluctuate, investors and stakeholders must remain vigilant and proactive in safeguarding their interests. By addressing potential fraud and expressing frustration towards alleged misconduct, industry leaders are setting a precedent for accountability and transparency within the space. Moving forward, collaborative efforts and informed decision-making will be crucial in ensuring the sustainability and legitimacy of digital assets.
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