Skybridge Capital founder Anthony Scaramucci believes bankrupt crypto exchange FTX cannot be saved after filing for bankruptcy.
Former FTX Boss Betrayal
Founder and American entrepreneur in an exclusive interview while attending the World Economic Forum in Davos, Switzerland commented There is no way to save the exchange.
Still, Scaramucci sees FTX founder Sam Bankman-Fried as a friend who sat at the table for “high-profile people.” The problem is that he feels betrayed by Sam. It turned out to be “delusional” and fraudulent.
He added that it would be up to the jury and the presiding judge whether or not Sam would go to prison.
In its heyday, FTX was one of the largest cryptocurrency exchanges in the world, offering what was considered a solid trading platform for hundreds of thousands, if not millions, of users at the time. was
However, as the cryptocurrency market crashed and bitcoin fell towards its trading range of around $20,000 this week, cracks began to appear in FTX.
Ultimately, an explosive article exposing its founder Sam Bankman-Fried’s misconduct and several accounting errors in their finances broke Camel’s back. FTX and its trading arm Alameda Research then embezzled billions of dollars in customer funds. It became clear that he had
Anthony Scaramucci: Skybridge Capital is patient
In light of the evidence presented and claims from the restructuring officer in charge of the FTX bankruptcy proceedings, Anthony Scaramucci said nothing should be done.
He revealed that his fund was not spared by the cryptocurrency winter and the FTX epidemic as market prices fell, impacting earnings. According to Anthony, their core his fund will see him drop 30% in 2022. Scaramucci also confirmed that Skybridge Capital was “done without leverage” and owns the inventory.
Asked if he had lost money in the last year, he confirmed that he hadn’t lost money because Bitcoin (BTC) was intact and he didn’t use leverage. is to trade. Borrowed funds, along with deposits, act as margin, enabling higher returns. Still, losses can occur if the trader’s prediction is wrong. Traders can lose all their deposits if they use leverage to trade other assets, including crypto.
Anthony revealed that FTX was one of Skybridge Capital’s early investors, buying 30% of the fund, although FTX is in crisis and may be dissolved. bottom. As part of the deal, the fund bought his 10% of his FTT tokens in FTX and sold it at a loss of $9.5 million.
Nevertheless, Antony said they are patient and waiting “what the bankruptcy says” so they can buy back the shares. He explains that he does not blame the cryptocurrency market or SkyBridge Capital for all the problems. Overall, he is confident in the prospects of cryptocurrencies.
Featured image from Harvard Political Review, chart from TradingView.com