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☆ Anthony Scaramucci says he bought Sam Bankman-Fried a suit for their Middle East fundraising tour and that the trip sparked FTX's downfall
▼ + stars: | 2023-01-27 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

Sam Bankman-Fried and Anthony Scaramucci went on a Middle East fundraising tour in October. Scaramucci told Insider he bought SBF a suit so the FTX CEO wouldn't wear a T-shirt with investors. Scaramucci told Insider he bought the then-FTX CEO a suit from Bloomingdale's to help impress investors. "I bought him a suit, frankly, to take him to the Middle East with me and told him he can't dress with a T-shirt in the Middle East," Scaramucci told Insider. "So in some ways, I'm happy that we took that trip because we could still be living in a world of FTX," Scaramucci said.

☆ 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."

☆ Inclusive Capital takes a stake in Bayer — 3 ways it may build value with a sustainable focus
▼ + stars: | 2023-01-21 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Activist Commentary: Inclusive Capital Partners is a San Francisco-based investment firm focused on increasing shareholder value and promoting sound environmental, social and governance practices. As a pioneering active ESG ("AESG") investor, Inclusive seeks long-term shareholder value through active partnership with companies whose core businesses contribute solutions to this pursuit. Bayer's crop science division accounts for approximately 25% of global crop farming. There are several ways to create this shareholder value. Bayer currently trades at approximately 7x earnings while its pure-play crop science peer, Corteva, trades at closer to 20x earnings.

[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.

☆ Industry vs. Regulator - aviation heavyweights spar in Dublin
▼ + stars: | 2023-01-16 | by ( Joanna Plucinska | ) www.reuters.com time to read: +3 min

Willie Walsh, outspoken head of the world's biggest airline trade body, IATA, joined the European Union's top permanent transport official Henrik Hololei on stage at the Airline Economics conference in the world's aviation finance capital. But Walsh wanted to know what could be done to lift that closure, which threatens to penalise some Western airlines at the expense of Chinese and other carriers that continue to fly over Russia. He added there would be no "business as usual" if Russian airspace did reopen. Airlines accuse airports of overcharging carriers, while airports say they have to fund huge capital investments. "We allowed those who wanted to find the poster child for environmental damage to pick on aviation," he 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.

☆ Pitch Decks That Advertising Tech Startups Used to Raise Millions
▼ + stars: | 2023-01-10 | by ( Business Insider | ) www.businessinsider.com time to read: +19 min

Check out these pitch decks that they've used to sell their vision and raise millions from private equity and VC investors. Blocking ad fraudAdtech startup Lunio, announced a $15 million Series A funding round in September 2022. In May 2022, the software-as-a-service startup raised a $30 million Series B round, led by Insight Partners. Marketing in the metaverseAnima, an augmented-reality startup, raised a $3 million funding round from investors in Janury. He raised $50 million in Series D after closing a $34 million Series C last year, bringing its total raised to $100 million.

☆ Analysis: Is the party over? Mexico's peso could lose solid gains in 2023
▼ + stars: | 2022-12-29 | by ( Noe Torres | ) www.reuters.com time to read: +2 min

MEXICO CITY, Dec 29 (Reuters) - Mexico's peso, which is ending 2022 with one of its strongest performances in a decade, could have its gains wiped out in 2023 after an expected end to the Bank of Mexico's rate hikes cycle and a possible recession in top trade partner the United States. "The carry trade, the phenomenon that has benefited (the peso) this year, will likely dissipate a bit," said CI Banco analyst James Salazar. The carry trade refers to a trading strategy of taking advantage of yield differences between Mexico and other economies. Traders at the Chicago Mercantile Exchange, considered a bellwether of market sentiment, have started to bet the peso will begin depreciating. Reporting by Noe Torres; Writing by Anthony Esposito; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ United Furniture Industries owner reportedly has vanished and is staying silent after laying off 2,700 staffers right before Thanksgiving
▼ + stars: | 2022-12-02 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

United Furniture Industries founder David Belford has remained silent and unreachable since firing 2,700 employees last week. Belford allegedly shut down a plan to file for Chapter 11 bankruptcy days before the layoffs, the New York Post reported. Staffers were terminated in late-night emails and texts sent right before Thanksgiving. In the messages, sent just before midnight, UFI said it was laying off "all employees" due to "unforeseen business circumstances." "Belford said, 'We are not going forward with a Chapter 11,'" Hearn told the New York Post.

☆ 4 college friends turned $1 million into a New York venture-capital empire backing tech's hottest unicorns. Here's how they did it.
▼ + stars: | 2022-11-29 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +8 min

Founded as the side project of four college friends, Eniac Ventures has become a major player in VC. They named the firm Eniac Ventures, after the first electronic computer, developed at the University of Pennsylvania's engineering school, where the four had met. What started as the side hustle of four college buddies has become a powerhouse of the venture-capital industry, backing some of tech's hottest unicorns. And Eniac has invested alongside some of the biggest names in venture, including Y Combinator, Lightspeed Venture Partners, and New Enterprise Associates. Vasen met the Eniac partners at an event they hosted for prospective founders at a Chinese restaurant in San Francisco.

☆ A tech rebound may be needed for a full market recovery. These are the stocks that could lead
▼ + stars: | 2022-11-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

The S & P 500, meanwhile, is down 15.5% this year, dragged down by the communication services and information technology sectors, along with consumer discretionary. The Nasdaq is up 6% in the fourth quarter, while the S & P 500 has surged 12% in that time. But, some investors think tech's cooperation will be needed for the market to bounce back from this bear market. "[Tech stocks] have to participate, they have to move up to get a big market move," the company's co-chief investment officer said. Tech stocks that could lead Given this backdrop, CNBC Pro searched for stocks in the Nasdaq 100 — which is made up of the 100-largest Composite stocks — that could lead tech out of its rut.

☆ 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."

☆ G20 vows to calibrate pace of interest rate hikes, avoid spillovers
▼ + stars: | 2022-11-16 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

The central banks will also be mindful of the need to limit spillovers, the statement added, in a nod to emerging economies' concerns about the potential for huge capital outflows if aggressive U.S. rate hikes continue. The emphasis on the need to fight inflation contrasted with the G20 statement last year, which said central banks must avoid overreacting to transitory rises in inflation. The G20 leaders also called for "temporary and targeted" fiscal spending to low-income households which are particularly vulnerable to rising living costs. Now, policymakers are faced with the dilemma of having to combat inflation with interest rate hikes, without cooling economies that are already facing the risk of recession. "It may not happen everywhere, but several key countries risk sliding into recession," said WTO Director-General Ngozi Okonjo-Iweala.

☆ Key takeaways from the G20 summit in Bali
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +6 min

Here are key takeaways from the meeting:CONDEMNING RUSSIAN AGGRESSIONMeetings of G20 ministers earlier this year ended without joint declarations because of Russian opposition to references to the war in Ukraine. With the Ukraine war, as well as massive pandemic-era spending packages blamed for fuelling red-hot inflation, the G20 countries said further fiscal stimulus measures should be "temporary and targeted". Besides the meeting with Biden, Xi held talks with Australian Prime Minister Anthony Albanese, South Korean President Yoon Suk-yeol, Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron. A meeting with British Prime Minister Rishi Sunak was cancelled due to scheduling issues, Downing Street said. Xi is set to meet Japanese Prime Minister Fumio Kishida later this week.

REUTERS/Maja Smiejkowska/File PhotoCommodity trade finance covers many types of loans, typically from banks, that facilitate global movement of goods from wheat to gasoline. Most trade finance loans are short-term, less than a year. Traders’ credit lines became strained last year when natural gas prices sky-rocketed in the fourth quarter. ‘DESIRE TO DIVERSIFY’Lending for commodity trade finance has become more diverse, with non-bank financial institutions (NBFI) stepping in. The underlying issue was the retreat of major banks from commodity financing after some 2020 defaults in the sector while Russian banks Sberbank and Gazprombank that were set to expand have now been shut out of Europe.

Commodity trade finance covers many types of loans, typically from banks, that facilitate global movement of goods from wheat to gasoline. Most trade finance loans are short-term, less than a year. The involvement of hedge funds in commodity trade finance has created a lifeline for smaller firms, deemed to be higher risk for banks due to strict capital requirements and clean energy goals. 'DESIRE TO DIVERSIFY'Lending for commodity trade finance has become more diverse, with non-bank financial institutions (NBFI) stepping in. The Swiss firm specialises in financing small to mid-sized commodity merchants and has achieved returns between 6% to 10% over the last 10 years.

☆ 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.

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