Through its venture arm, FTX is reportedly taking a major stake in the Anthony Scaramucci-led hedge fund.
After the market turmoil that brought massive pain to numerous crypto-related companies, FTX continues to channel money into such entities.
The latest one in which the SBF-spearheaded organization will acquire a large stake is SkyBridge Capital.from earlier on September 9, FTX Ventures will take a 30% stake in SkyBridge Capital. The leaders of the two entities – Sam Bankman-Fried and Anthony Scaramucci, are set to provide further details on the deal later today.
SkyBridge will reportedly use a portion of the funds to pay old investors and strengthen its balance sheet. The firm began struggling due to its substantial exposure to the cryptocurrency industry after the market sank a few months ago.
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