Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / News/  Scaramucci's SkyBridge Capital looking to buy back stake from FTX: Report
BackBack

Scaramucci's SkyBridge Capital looking to buy back stake from FTX: Report

Anthony Scaramucci said that the SkyBridge Capital is working to buy back its stake from embattled crypto exchange FTX

Scaramucci said he went to the Bahamas on Tuesday to meet Bankman-Fried and try to help rescue the crypto exchange (REUTERS)Premium
Scaramucci said he went to the Bahamas on Tuesday to meet Bankman-Fried and try to help rescue the crypto exchange (REUTERS)

SkyBridge Capital is working to buy back its stake from embattled crypto exchange FTX, the alternative investment firm's founder Anthony Scaramucci said in an interview with CNBC on Friday.

"My legal team and my other partners are working to buy back that stake to take him off of our cap table," he said, referring to Sam Bankman-Fried, FTX's founder.

SkyBridge has no assets under custody at FTX, according to Scaramucci. "We thought that was a potential conflict of interest."

Still, he said the firm has had to mark some assets down given the steep decline in cryptocurrencies prices.

In September, FTX announced it had bought a 30% stake in Scaramucci's $2.2 billion firm, which manages over $800 million in digital-related assets.

Scaramucci said he went to the Bahamas on Tuesday to meet Bankman-Fried and try to help rescue the crypto exchange. He left in the afternoon, after realizing there was not much he could do. "Perhaps there was more going on than it being a rescue situation."

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 11 Nov 2022, 09:05 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie