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☆ Anthony Scaramucci's SkyBridge Capital limited redemptions as bets on FTX and crypto resulted in a 39% loss last year
▼ + stars: | 2023-01-27 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

Anthony Scaramucci's SkyBridge Capital suffered a 39% loss in its top funds in 2022, according to Bloomberg. That's due to losing bets on FTX and cryptocurrencies, pushing investors to pull their money out. SkyBridge investors asked to withdraw 60% of a top fund's capital in the September 30 redemption period, but it only returned 10%. SkyBridge investors asked to withdraw 60% of the top fund's capital in the September 30 redemption period, but it only returned 10%, according to filings cited by Bloomberg. Additionally, SkyBridge funds were listed as owning 244,196 common shares and 61,049 Series B-1 Preferred shares of FTX Trading.

☆ US stocks rally and notch weekly gains as inflation continues to cool
▼ + stars: | 2023-01-27 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

US stocks closed higher Friday after reversing early-session losses. Easing inflation data added to investor optimism that the Federal Reserve could slow rate hikes. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Loading Something is loading. SkyBridge Capital lost nearly 40% last year on losses from FTX and crypto bets.

☆ Anthony Scaramucci says he got only $400,000 back on his $10 million investment in FTX's token
▼ + stars: | 2023-01-25 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Anthony Scaramucci says he only got $400k back from a $10 million investment in FTX's token. The SkyBridge Capital investor backed FTT after receiving $45 million in funding from FTX. The coin lost 91% of its value in a matter of days following allegations Bankman-Fried's Alameda Research held a significant amount of the FTT token, falling from averages around $24 to less than $1. SkyBridge received $45 million of funding from Bankman-Fried after FTX bought a 30% stake in the company, of which Scaramucci invested $10 million in FTT, before eventually selling it at a loss of $9.6 million. I'm not going to be the person that takes no more risk in the future because I got burned by Sam."

[1/4] People stand in front of the Blockchain Hub Davos 2023 at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 16, 2023. REUTERS/Arnd WiegmannDAVOS, Switzerland, Jan 19 (Reuters) - In the snow and ice on the main drag in Davos, the impact of the crypto winter is plain for WEF attendees to see. Executives in Davos said they are now all about blockchain technology, proper controls and regulation, and the promise of disruption that it holds for financial services and beyond. Colm Kelleher, chairman of Swiss bank UBS (UBSG.S), told a WEF panel that blockchain technology will help reduce costs for banks. "We kind of dodged a bullet," Kelleher said, noting that the collapse in the value of crypto currencies had not caused systemic problems.

☆ Anthony Scaramucci compared Sam Bankman-Fried to Bernie Madoff, and alluded to Dante's 'Inferno' as he discussed the FTX founder's downfall
▼ + stars: | 2023-01-17 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Anthony Scaramucci spoke about his relationship with Sam Bankman-Fried at a Davos crypto panel. Scaramucci alluded to the circles of hell in Dante's "Divine Comedy" and compared SBF to Bernie Madoff. FTX bought 30% of SkyBridge Capital for $45 million in September 2022. The Financial Times reported that SkyBridge Capital also bought $10 million of FTX's cryptocurrency, FTT, as part of the deal's requirements. "I made a mistake being involved with Sam," Scaramucci said.

DAVOS, Switzerland, Jan 16 (Reuters) - SkyBridge Capital is betting on a sustained turnaround in cryptocurrency markets in 2023, the firm's founder Anthony Scaramucci said, while admitting this view was "overly bullish". "If bitcoin could trade back to $35,000, SkyBridge is going to have an amazing year," Scaramucci told the Reuters Global Markets Forum in Davos, Switzerland. Bitcoin is trading at around $20,800, a 26% gain so far this year after falling by more than 64% in 2022. SkyBridge has invested in bitcoin, ethereum , solana and altcoin algorand , and is also eyeing the structured credit market to drive 2023 returns after the firm's losses in 2022. "Structured credit, mortgage-backed securities, credit card debt, auto loans -- that's an attractive space again," Scaramucci said.

☆ Scaramucci says he's confident he can by buy back SkyBridge Capital stake from FTX
▼ + stars: | 2023-01-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailScaramucci says he's confident he can by buy back SkyBridge Capital stake from FTXAnthony Scaramucci, founder of SkyBridge Capital, said he believes he'll be able to buy back a stake FTX purchased in his firm this year. Since that investment, FTX has gone bankrupt. Scaramucci discusses the fallout from the FTX saga and his views on the exchange's founder Sam Bankman-Fried.

☆ Trump is a 'threat to the American democracy,' Anthony Scaramucci says
▼ + stars: | 2023-01-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump is a 'threat to the American democracy,' Anthony Scaramucci saysAnthony Scaramucci, founder of SkyBridge Capital, says he does not think Donald Trump should be U.S. president again and discusses the discovery of classified documents at the home of President Joe Biden.

☆ Scaramucci says SkyBridge can buy back FTX stake this year, alleges SBF 'committed fraud’
▼ + stars: | 2023-01-13 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

FTX bought a 30% stake in SkyBridge in September, before the crypto company filed for bankruptcy on Nov. 11. We'll of course have to let the legal system determine all of those things," Scaramucci told CNBC. Bankman-Fried has pleaded not guilty to eight federal charges including fraud and money laundering. Meanwhile, FTX co-founder Gary Wang and Caroline Ellison, the former co-CEO of Alameda Research, have both pleaded guilty to federal charges connected with FTX's collapse and are working with investigators. Alameda Research was the crypto hedge fund started by Bankman-Fried and affiliated to FTX.

☆ As Coinbase shares slide, Morgan Stanley lists major firms with potential FTX exposure
▼ + stars: | 2022-11-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Strategists at Morgan Stanley on Nov. 17 compiled a list of 63 institutions that may be exposed to losses or have their capital stuck on FTX's platform. The below table shows 19 of the companies identified by Morgan Stanley as having significant exposure to FTX. Of the 19 companies listed, 15 have confirmed some exposure to FTX (although figures may differ from Morgan Stanley's estimates). Temasek, the Singaporean state-owned holding company, said it had invested more than $200 million in FTX and FTX's U.S. subsidiary. Morgan Stanley also named Ledn, BlockFi, Amber Group, Skybridge Capital and Selini Capital as among the funds with potential exposure to FTX, but where values had not been disclosed.

Even though more than half the money ever invested in bitcoin would now be underwater if it had stayed, crypto monitors insist it's somehow still attracting punters. Cryptocurrency and bitcoin investors seem to be showing few signs of dumping their crypto-related assets, stocks and exchange-traded funds (ETFs), despite the latest wave of turmoil and scandal to crash over the sector. Analysts at JP Morgan estimate that around $25 billion has flowed out of the crypto since May. He estimates that the stablecoin market cap peaked at around $170 billion earlier this year and has declined by around $25 billion since May. That is, $25 billion of redemptions flowing out of crypto, most likely to fiat currency, perhaps cash or cash-like products.

REUTERS/Octavio JonesNEW YORK, Nov 16 (Reuters) - Former President Donald Trump's entry on Tuesday into the 2024 presidential race confirmed the world's "worst kept secret" and created another variable for markets that some investors say remains a low priority for now. Trump's announcement, meanwhile, came as little surprise to investors, as the former president had telegraphed the possibility he might run again for some time. DIVIDED WE HURTUnlike during Trump's previous bid, the discord within the Republican party also worried some investors. The Republican president has claimed credit for the rise, tweeting often about Wall Street's performance. Both stocks rallied earlier this month on reports Trump was considering a third bid for the White House.

☆ Reactions to Trump announcing 2024 White House bid
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +5 min

SINGAPORE, Nov 16 (Reuters) - Donald Trump's aides filed paperwork for his 2024 White House bid on Tuesday as the former president launched a run to regain the title, aiming to pre-empt potential Republican rivals. Republicans are meanwhile closing in on the 218 seats they need to take a majority in the 435-seat House of Representatives. COMMENTS:ANTHONY SCARAMUCCI, FOUNDER, SKYBRIDGE CAPITAL, SINGAPORE (FORMER WHITE HOUSE COMMUNICATIONS DIRECTOR)"You know how you have a zombie that you can’t kill, like in the Night of the Walking Dead? If any one of those other candidates can present themselves with some of the Trump messaging without the Trump drama, there might be opportunities." Neil Young said 'it's better to burn out than fade away'...feels like Trump will go down this time with little glory."

☆ Crypto's been 'cut to ribbons' - but it can survive FTX's crash if players stop lighting each other up on Twitter, Anthony Scaramucci says
▼ + stars: | 2022-11-15 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Anthony Scaramucci said the crypto industry has been "cut to ribbons" this year, after FTX's crash. He said the industry can only grow up if crypto players stop lighting each other up on Twitter. Scaramucci stressed that the crypto industry can only grow up if crypto players collaborated with each more instead of banging heads with each other. Before FTX's downfall that reverberated through the crypto industry, Zhao tweeted that Binance would be liquidating all its FTT tokens — a crypto token native to FTX — due to "recent revelations." He told CNBC hours before FTX filed for bankruptcy that he's in a worse position because Bankman-Fried has hurt the industry.

☆ Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy
▼ + stars: | 2022-11-11 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Sam Bankman-Fried's cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the U.S., according to a company statement posted on Twitter. CNBC reached out to Adam Landis, founding partner of Landis Rath & Cobb LLP, who filed the Chapter 11 proceedings on behalf of FTX. FTX founder Sam Bankman-Fried admitted on Thursday that he "f---ed up." The Chapter 11 proceedings exclude the following subsidiaries: LedgerX LLC, FTX Digital Markets Ltd., FTX Australia Pty Ltd., and FTX Express Pay Ltd.

☆ FTX to start U.S. bankruptcy proceedings, CEO to exit
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +4 min

LONDON, Nov 11 (Reuters) - Crypto exchange FTX is to start U.S. bankruptcy proceedings and CEO Sam Bankman-Fried is to step down, after a liquidity crisis at the cryptocurrency group that has prompted intervention from regulators around the world. The distressed crypto trading platform had been struggling to raise billions in funds to stave off collapse after a wave of withdrawals. "I'm really sorry, again, that we ended up here," said FTX founder Bankman-Fried, in a series of tweets after the commencement of the bankruptcy filing. FTX is under investigation by the U.S. Securities and Exchange Commission, Justice Department, and Commodity Futures Trading Commission, according to a source familiar with the investigations. Cyprus's Securities and Exchange Commission has asked FTX EU to suspend its operations on Nov. 9, the regulator said on Friday.

☆ Anthony Scaramucci breaks down his recent meeting with FTX's Sam Bankman-Fried
▼ + stars: | 2022-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnthony Scaramucci breaks down his recent meeting with FTX's Sam Bankman-FriedAnthony Scaramucci, SkyBridge Capital founder, joins CNBC's 'Squawk Box' to discuss his recent meeting with FTX CEO Sam Bankman-Fried in the Bahamas.

☆ Scaramucci talks FTX, Sam Bankman-Fried and 'the worst week in cryptocurrency history'
▼ + stars: | 2022-11-11 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

Anthony Scaramucci, the founder of SkyBridge Capital and short-time Trump communications director, spoke on CNBC's Squawk Box Friday morning about friend and business partner Sam Bankman-Fried, the CEO of the crumbling crypto exchange FTX. Scaramucci told Squawk Box that we went to the Bahamas to help Bankman-Fried as an investor and friend. Scaramucci said he didn't see evidence of this mishandling when he and other investors first screened FTX as a potential business partner. "Duped I guess is the right word, but I am very disappointed because I do like Sam," Scaramucci continued. "There's a lot of distress in the markets, and a lot of my friends think it's the worst week in cryptocurrency history," Scaramucci said.

☆ Scaramucci's SkyBridge Capital looking to buy back stake from FTX - CNBC
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: 1 min

Ontario Pension says any loss from FTX investment to have limited impact, article with imageTechnology category · November 10, 2022The Ontario Teachers Pension Plan (OTPP) said on Thursday it had invested a total of $95 million to the troubled cryptocurrency exchange FTX and any financial loss from the exposure will have limited impact on the pension plan.

☆ Rise and fall of crypto exchange FTX
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - Cryptocurrency exchange FTX stood on the brink of failure on Thursday after a bailout from larger rival Binance collapsed. September - FTX signed a sponsorship deal with Mercedes' Formula 1 team. June 4 - FTX signed a reportedly $135 million sponsorship deal for naming rights of the Miami Heat's home court. July 1 - FTX signed a deal with an option to buy embattled crypto lender BlockFi for up to $240 million. Aug. 19 - A U.S. bank regulator ordered crypto exchange FTX to halt "false and misleading" claims it had made about whether funds at the company are insured by the government.

☆ Explainer: Crypto industry spends millions on U.S. midterm elections
▼ + stars: | 2022-11-08 | by ( Hannah Lang | ) www.reuters.com time to read: +5 min

Crypto companies are eager to back industry-friendly political candidates. The election comes at a time of turmoil for the crypto industry. FTX's CEO Sam Bankman-Fried has far outspent all others in the crypto industry. WHAT IS THE CRYPTO INDUSTRY LOOKING TO GET IN RETURN? Crypto companies such as Circle want lawmakers to create a framework for stablecoins to help mature the industry and codify consumer protections.

☆ Anthony Scaramucci says the U.S.-Saudi Arabia relationship is by and large 'unbreakable'
▼ + stars: | 2022-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnthony Scaramucci says the U.S.-Saudi Arabia relationship is by and large 'unbreakable'Anthony Scaramucci, SkyBridge Capital founder, says relationships like that are "sort of like a Catholic marriage."

☆ Anthony Scaramucci says the UK should have another referendum on Brexit
▼ + stars: | 2022-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnthony Scaramucci says the UK should have another referendum on BrexitAnthony Scaramucci, SkyBridge Capital founder, says the U.K. is "investible" in the long term, but there isn't much clarity at the moment.

☆ Crypto PACs backed by Sam Bankman-Fried, Scaramucci plan last-minute midterm ad blitz
▼ + stars: | 2022-10-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

A network of political action committees supported by cryptocurrency industry leaders are planning a last-minute ad campaign in support of congressional candidates, according to one of the groups' chief strategists. Web3 Forward and Crypto Innovation, two super PACs financed by the crypto executives, are both expected to spend at least six figures on an ad blitz starting in two weeks, the strategist explained. During the primary season, Web3 Forward backed Democrats running for Congress, while Crypto Innovation supported Republicans, according to Federal Election Commission records. The spending by the crypto PACs will add to a flurry of cash flowing in what are expected to be the most expensive midterm elections ever. Former Trump White House communications director and SkyBridge Capital founder Anthony Scaramucci donated $100,000 to Crypto Innovation in March, according to an FEC filing.

☆ The West needs a better economic relationship with China, says Anthony Scaramucci
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe West needs a better economic relationship with China, says Anthony ScaramucciAnthony Scaramucci, Skybridge Capital founder, joins CNBC's 'Squawk Box' to discuss the U.S.'s relationship with China, Saudi Arabia and more.

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