FTX Ventures acquires 30 % of the shares in Skybridge Capital from Scaramucci

ftx ventures, the investment company led by the billionaire Sam Bankman-Fried, will buy a 30 percent participation in the Fund of the ex-Trump consultant Anthony Scaramucci while continuing his mission to strengthen the struck cryptocurrency market.

The financial conditions of the deal were not announced, but Skybridge from Scaramucci said that it would use $ 40 million of the proceeds to buy cryptocurrencies that want to keep it as a long -term investment.

With the deal, Bankman-Fried will again step in as a financial support for companies that are affected by the crypto markets.

Skybridge has invested in hedge funds in the past, but Scaramucci, who briefly served under Donald Trump as a correspondent for the White House and later became a critic of the former president, has geared his business to cryptocurrencies.

The recent upheavals on the cryptom market, in which several companies registered bankrupt and let the prices for cryptocurrencies decrease, have impaired the performance of Skybridge and the company prompted to suspend reputation in one of its funds. However, Scaramucci remained optimistic about the prospects of crypto and encouraged investors to “remain disciplined” in an interview with CNBC.

The news of the deal comes days before Scaramucci's annual Salt conference in New York City, for which Bankman-Fried Sponsor and speaker is. At the beginning of this year, the two men also founded and organized Crypto Bahamas, a conference for digital assets.

The largest company of Bankman-Fried, the FTX exchange, achieves a large part of his income from trade fees and depends heavily on the health of the cryptom market. The crash of token prices, which has fallen by around 70 percent since their high last autumn, has opened up business opportunities.

ftx extended a rescue operation for the crypto loan Blockfi in July after the company had suffered losses through its commitment to the bankruptcy crypto hedge fund Arrows Capital.

As part of the deal,

ftx also offered a credit facility of $ 400 million, which included an option for the purchase of the company for up to $ 240 million.

Bankman-Fried also offered the lender Voyager Digital rescue loan, which later went bankrupt after the 30-year-old billionaire refused to provide additional support.

ftx held meetings about an emergency loan with Celsius, another great victim of the crypto crash, refused to extend a leash before the lender based in New Jersey exposed the withdrawals of customers and reported bankruptcy.

Scaramucci previously compared Bankman-Fried's interventions to the financier of Gilded Age, John Pierpont Morgan, who supported the US banking system.

"Sam Bankman-Fried is the new John Pierpont Morgan-he saves the cryptocurrency markets as the original JP Morgan did after the 1907 crisis," he said in a Juni interview with Bloomberg.