Crypto

Scaramucci to Invest in Crypto Firm Founded by Former FTX US Boss

SkyBridge Capital founder Anthony Scaramucci is investing in a crypto company founded by the former chairman of FTX US.

Scaramucci Told Bloomberg in an email that he would invest his own personal funds to support the new venture of former FTX US Chairman Brett Harrison, who was revealed just three weeks after crypto exchange FTX collapsed.

It is understood that the crypto software company – which is yet to be named – will allow crypto traders to create algorithm-based strategies to access different markets, both centralized and decentralized.

It is also understood Harrison was looking for a fundraising goal of up to $10 million at a $100 million valuation.

In a Jan. 14 tweet responding to Harrison’s long thread about Sam Bankman-Fried and his time at FTX US, Scaramucci said he was “proud” to be an investor in Harrison’s new company.

Harrison responded to the tweet by thanking Scaramucci, adding, “Your support and guidance means the world to me. I look forward to working together!

The amount of capital deployed and equity received by Scaramucci was not disclosed, however.

Harrison’s new crypto venture was first hinted at on September 27, when he announced he was resign from one’s role as President of FTX US.

At the time, he said he was stepping down as chairman but would remain on the exchange in an advisory role for the next few months.

“I can’t wait to share more about what I’m going to do next,” he said at the time.

In his most recent Twitter feed, Harrison revealed that he left the company after his relationship with Bankman-Fried deteriorated sharply and the problems led him to focus on the future and on my own business.

Related: Skybridge plans to buy out FTX stake, as Galaxy CEO says he’d like to ‘hit’ SBF

Meanwhile, Scaramucci continues to have high hopes for the recovery of the crypto market this year, describing the market outlook for 2023 as a “year of recovery.”

In a interview with CNBC on January 15, the crypto investor said he expects Bitcoin (BTC) bounce back into the $50,000-100,000 range over the next two to three years.

“You take risks but you also believe in [Bitcoin] adoption. So if we get the right adoption, and I think we will, that could easily be an asset of fifty to a hundred thousand dollars over the next two to three years,” he added.

At press time, Bitcoin was currently trading at $21,240, up 21.77% from last week.