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SkyBridge Capital to Buy Back the Stake it Sold to FTX, Says Scaramucci

According to Anthony Scaramucci, it is “quite apparent” that FTX and SBF committed fraud.

Anthony Scaramucci, the founder of SkyBridge Capital, stated that his firm may acquire back the majority share it previously sold to the bankrupt cryptocurrency exchange FTX in the coming months.

He also accused the platform and its previous CEO, Sam Bankman-Fried (SBF), of defrauding him.

Scaramucci recently told CNBC that SkyBridge Capital expects to repurchase the 30% share it sold to FTX in the coming months. This will occur once all relevant participants have detailed all aspects behind the trading venue’s demise:

“We’re waiting for approval from the bankruptcy people, lawyers, and investment bankers to determine exactly what we’re going to purchase back and when.”

SkyBridge, which had to deal with some serious challenges as a result of the bear market, promised to utilise some of the funds produced by selling the interest to FTX to pay off previous investors and strengthen its balance sheet.

For the first time, the former White House official stated that SBF’s acts resemble outright fraud.

“I think it’s obvious today that there was a sham. “Of course, we’ll have to let the judicial system decide all of that,” he stated during his most recent visit.

Scaramucci first stated that he was “disappointed” by FTX’s demise but declined to call it a “fraud.” He believes that regulators should determine the cause of the crash, while also encouraging SBF and his family to tell the truth to their clients.

FTX has discovered almost $5 billion in cash and liquid assets that might be used to compensate some of its numerous investors. Scaramucci believes creditors should be pleased with the news and believes the issue will be resolved “favourably.”

According to some sources, SkyBridge Capital purchased $10 million in FTX tokens as a prerequisite for the stake acquisition agreement.

Since Binance promised to unload its FTT hoard, the asset has been on a dramatic fall. Later, the price was influenced by FTX’s liquidity breakdown and the subsequent inquiry of its ex-CEO Bankman-Fried.

The coin is currently trading for roughly $1.38, a 94% decrease from the beginning of November 2022 estimates.

 

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