Anthony Scaramucci, SkyBridge Capital’s founder and managing partner has spoken out about Sam Bankman-Fried’s betrayal and his relationship with the ex-CEO of the defunct FTX Exchange.
The SkyBridge founder gave the details in the Blockchain Hub Opening Day discussion panel held in Davos, Switzerland. Scaramucci said he had a good relationship with the ex-CEO and considered him a friend. He also admitted to being close to Bankman-Fried’s parents and relatives.
In addition, Scaramucci said Bankman-Fried’s betrayal and fraud hurt him emotionally and reputationally. He likened Bankman-Fried’s betrayal to the ‘ninth circle of hell’ described in Dante Alighieri’s Inferno.
Scaramucci also stated that the failure of FTX does not spell the end of blockchain and cryptocurrency because the blockchain industry is aimed at being decentralized, where people do not need to rely on intermediaries but can transact in a way that technology sanctifies the ecosystem.
Furthermore, Scaramucci said he made the mistake of trusting Bankman-Fried because he believed he was the Mark Zuckerberg of crypto. However, he hinted that he is still very interested in investing in the crypto industry. “It is much better to be an entrepreneur despite the ups and downs,” says Scaramucci.
Scaramucci’s Business Relationship with FTX
While the SkyBridge founder has stated his disappointment over the collapse of FTX due to fraud, he still has a pending business deal with the bankrupt FTX exchange.
The now-defunct crypto exchange’s investment arm, FTX Ventures, acquired a 30% stake in SkyBridge in September 2022 and contributed $40 million to the business, which was intended to be used to purchase cryptocurrencies.
Meanwhile, Scaramucci stated in a report by CNBC, that he is already making plans to repurchase the stake from the defunct trading firm.
Scaramucci has also recently lent his support to a new startup firm founded by FTX’s former President, Brett Harrison. He made the announcement on Twitter, stating that he is a proud investor in the new crypto software firm that was founded to assist crypto traders in developing algorithms for a variety of crypto markets.
It is worth mentioning that the defunct FTX exchange eventually filed for bankruptcy after Bankman-Fried announced in November that the firm was experiencing liquidity issues and therefore needed capital to remain afloat.
At that time, Bankman-Fried who is now currently serving prosecution was accused of diverting funds from FTX and investing in his subsidiary firm, Alameda Research LLC.
