Skybridge Eyes Stake Buyback From FTX, as Galaxy CEO Says He Might Want to ‘punch’ SBF

Anthony Scarammuci also Noticed that there was “Clearly Fraud” in the SBF and FTX disaster, while Mike Novogratz said there’s a side of him that might want to “punch” SBF in the face.

SkyBridge Capital CEO Anthony Scaramucci said that his firm can repurchase the stake of the company it offered to FTX back in September last year. The CEO of the company stated that he would be tempted to punch SBF in the jaw.

SkyBridge and FTX

FTX Ventures acquired a 30% stake in the alternative asset manager SkyBridge for an undisclosed expense on Sept. 9, only a couple of months before FTX filed for bankruptcy in November.

Addressing CNBC on Jan. 13, Scaramuci noted that considering FTX’s inconveniences, SkyBridge is making progress in repurchasing that stake, however recommended the move wouldn’t have the option to get arranged “until most likely the finish of the primary portion of this current year.”

“We’re waiting for the clearance from the bankruptcy individuals, the legal counselors and the investment bankers to sort out precisely exact thing we will repurchase, and when,” the CEO said, adding that “I figure it will sort itself out well.”

Talking on previous FTX CEO and founder Sam Bankman-Fried, Scaramucci illustrated his contemplations that there has likely been some unfairness there.

“I believe it’s exceptionally clear now that there was fraud. We’ll of course need to allow the general set of laws to determine those things. Yet, for Sam, he has three of four of the rules that have worked close by him have as of now confessed, and clarified for prosecutors what they did,” Scaramucci said.

Caught up with @Scaramucci today. FTX and Sam Bankman-Fried bought a 30% stake in Scaramucci's SkyBridge Capital before FTX collapsed. Now Scaramucci says that he's confident he'll be able to buy that stake back. Given new facts, he also alleges SBF committed fraud pic.twitter.com/jxltXdjCKW

— Arjun Kharpal (@ArjunKharpal) January 13, 2023

The CEO’s comments provide a stark contrast to his past statements to CNBC from November, wherein Scaramucci would not utilize the “fraud” word because of its legitimate ramifications, and encouraged, Sam and his family need to get to the bottom of the debacle.

According to SkyBridge’s website, it had $2.2 billion worth of assets under management as of Sept. 30, 2022, with generally $800 million of the figure comprised of digital-asset-related investments.

Galaxy CEO Searching for a Smackdown

Galaxy Digital CEO Mike Novogratz says there is a side of him that might want to punch both SBF and Digital Currency Group CEO Barry Silbert for their revealed jokes during Crypto winter.

In a meeting with Bloomberg posted on Jan. 13, Novogratz noted that the FTX ordeal ended up directly costing Galaxy around $77 million. As such he honestly hate SBF and other alleged misconduct in the space over the course of the last year.

“The toxic manly side of me might want to punch them both in the jaw,” he said of SBF and Silbert, prior to adding explicitly on SBF: “You must be f- – – ing messing with me. Like, truly, you a- – – – – – ?”

Novogratz ultimately admitted that he is as yet a crypto defender in spite of 2022 being a wild year for the industry.

He noted however, that he wished he had forgotten about more capital before in 2022 preceding FTX and, surprisingly, the Terra/LUNA ecosystem lost everything. In any case, he says he managed to get more than $1 billion out before that year started.