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Seeking Alpha 2022-09-09 12:42:58

Scaramucci's SkyBridge Capital sells 30% stake to Bankman-Fried's FTX Ventures

FTX Ventures, the venture capital unit of cryptocurrency exchange FTX owned by billionaire investor Sam Bankman-Fried, has acquired a 30% stake in Anthony Scaramucci's SkyBridge Capital on Friday.The move was intended to provide SkyBridge, a New York-based investment firm that manages digital asset offerings, additional working capital to fund growth initiatives and new product rollouts, FTX said.SkyBridge will also use a chunk of the proceeds to buy $40M in cryptos as a balance sheet-based investment."After working with Anthony and his team following our SALT conference partnership, we saw there was an opportunity to work closer together in ways that could complement both our businesses,'' said Bankman-Fried. "We look forward to collaborating closely with SkyBridge on its crypto investment activity and also working alongside them on promising non-crypto-related investments."Financial terms of the deal were not disclosed.Earlier, Bankman-Fried told CNBC that the real pain in crypto is likely over.

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Scaramucci's SkyBridge Capital sells 30% stake to Bankman-Fried's FTX Ventures

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