In the latest “JPMorgan-like” move, the venture capital arm of FTX is taking a 30% stake in Anthony Scaramucci’s SkyBridge Capital which has been struggling recently.
“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,” Bankman-Fried shared in a statement. “We look forward to collaborating closely with SkyBridge on its crypto investment activity and also working alongside them on promising non-crypto-related investments.”
The companies said that a portion of the capital will be used to buy $40 million in digital assets for SkyBridge’s balance sheet “as a long-term investment.”
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