Skybridge Eyes Stake Buyback From FTX
On September 9, FTX Ventures paid an undisclosed fee for a 30% stake in alternative asset manager SkyBridge, just a few months before FTX declared bankruptcy in November.
Scaramuci told CNBC on January 13 that, considering FTX’s problems, SkyBridge is making progress in repurchasing that stake, but that the transaction won’t be completed “until probably the end of the first half of this year.”
“We’re waiting for approval from the bankruptcy people, lawyers, and investment bankers to figure out exactly what we’re going to buy back and when,” the CEO said, adding, “I think it will resolve itself favourably.”
Scaramucci stated his belief that former FTX CEO and founder Sam Bankman-Fried was involved in some foul play.
“I think it’s very clear now that there was fraud. Of course, we’ll have to leave everything up to the legal system. “However, for Sam, three of the four principles who worked with him have already pled guilty and explained to prosecutors what they did,” Scaramucci said.
Scaramucci’s remarks contrast sharply with his previous statements to CNBC in November, in which he urged “Sam and his family to tell the truth to their investors, get to the bottom” of the entire debacle.
According to SkyBridge’s website, it had $2.2 billion worth of assets under management as of Sept. 30, 2022, with roughly $800 million of the figure comprised of digital-asset-related investments.
(With inputs from Shikha Singh)
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