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SkyBridge Capital Founder Anthony Scaramucci Reflects on SBF’s Betrayal

UTC by Godfrey Benjamin · 3 min read
SkyBridge Capital Founder Anthony Scaramucci Reflects on SBF’s Betrayal
Photo: World Economic Forum / Flickr

Scaramucci revealed that the perception of SBF’s character has changed remarkably.

Anthony Scaramucci, the founder and Managing Partner at SkyBridge Capital, has shared further details on his relationship with Sam Bankman-Fried (SBF), the founder of the now-bankrupt cryptocurrency trading platform, FTX Derivatives Exchange. SkyBridge Capital was one of the first backers of the trading firm, and also one of the most hit venture capital firms when the platform imploded last year.

Anthony Scaramucci, a respected figure in the investment world and in the blockchain ecosystem said the collapse of FTX had hurt him reputationally. This he claimed in part because he considered himself to be SBF’s friend.

“I had a close relationship with [Sam Bankman-Fried], I considered him a friend,” Scaramucci said during Casper Labs’ Blockchain Hub event. “So I have to tell you that the betrayal and fraud – it’s bad on a lot of different levels. It certainly hurt me reputationally.”

Scaramucci recanted some moments he shared with the embattled crypto entrepreneur who now faces 8 count charges of fraud in the United States. According to the SkyBridge boss, he has a relationship with SBF’s father, a tenured Professor at Stanford Law and he revealed that he has also met his aunt, both of whom worked on charity together.

Scaramucci said at a time, he, SBF, and Shark Tank host, Kevin O’Leary who is also a big supporter of FTX once traveled to Miami to host a mock Shark Tank event for children. These engagements made Scaramucci feel so close to Sam Bankman-Fried, and it also made the collapse of FTX more hurting for him.

When FTX filed for bankruptcy in early November, Scaramucci revealed that he had to fly down to the Bahamas to help out in what appears as a show of solidarity to a friend. He noted that the disappointment became huge as he discovered the extent of the damage done by the 30-year-old.

SkyBridge Capital and a Changed SBF’s Perception

For the SkyBridge Capital Managing Partner, the perception of SBF’s character has changed remarkably and he believes he is hellbound.

“If anybody here has read Dante Alighieri’s Inferno, you know what the ninth circle of Hell is reserved for,” Scaramucci said. “It’s for the betrayal of a friend who lives with the devil—the ninth circle of hell on the frozen lake,” he said.

When FTX was still fully solvent, the trading platform made a $45 million investment into SkyBridge Capital to secure a 30% stake in the venture capital firm. At the time, Anthony Scaramucci had a whole heap of praises for SBF, accolades that appear to have now turned to disdain.

Despite the recent betrayals and funds loss, Scaramucci said he will not back down from taking risks in the digital currency ecosystem as he still believes in the blockchain technology powering the broader industry.

“That’s why we have blockchain and crypto, because we’re trying to create a decentralized situation where we don’t have to like or trust each other,” he said. “We can transact with each other in a way where the technology basically sanctifies.”

Blockchain News, Cryptocurrency News, News
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