James Atkins
Editor
Editor
Cryptocurrency exchange FTX has acquired a 30% stake in SkyBridge Capital, a leading venture capital firm in the cryptocurrency space.On Friday, two prominent figures in the crypto industry—the CEO of crypto exchange FTX, Sam Bankman-Fried; and SkyBridge Capital founder Anthony Scaramucci—gave an interview to CNBC.
It was announced in the interview that FTX has acquired a 30% equity interest in SkyBridge Capital. A prominent venture capital firm specializing in crypto.
Scaramucci stated that he was ecstatic about the investment and thinks SkyBridge Capital and FTX exchange has a promising future.
Much like JP Morgan Chase is to the traditional banking industry. Bankman-Fried and his companies are called the go-to investor for cryptocurrency firms in need of millions of dollars.
FTX is one of the leading cryptocurrency exchanges in the world with a daily trading volume of $1.5 billion. FTX has been a great success since its launch in 2019 and has managed to gain the trust of big investors.
The FTX team is composed of experienced professionals from Wall Street and Silicon Valley.
The FTX exchange offers a variety of features such as margin trading, derivatives, and OTC trading. FTX also has its own token called FTT which can be used to get a discount on trading fees.
SkyBridge Capital is a global investment firm with over $9 billion in assets under management. The firm invests in a broad range of asset classes including private equity, hedge funds, real estate, and credit.
When asked about FTX’s most recent investment in SkyBridge Capital, SBF says;
“We have been watching SkyBridge and its team for about a year. We first heard about them at the SOL conference we attended last year. We are excited about what they are doing with both digital assets and traditional finance. SkyBridge is connecting the traditional financial world with the digital world, and we want to be a part of that. We see this investment as the next step in our journey (with FTX).”
$40 million would be provided to SkyBridge Capital as part of the investment. And the venture capital firm will utilize it to acquire cryptocurrencies. According to Scaramucci, they already acquired the security tokens.
He goes on to state that he had presented Sam Bankman-Fried with a proposal detailing SkyBridge Capital’s growth. In the digital asset management sphere and how it aligns with SBF’s vision for FTX.
Despite the ongoing cryptocurrency bear market, FTX Investments has been heavily investing in blockchain firms. The crypto exchange is one of the most rapidly expanding in the industry, recently surpassing Coinbase to become the largest crypto exchange; in the United States.
These are some of the benefits of FTX’s acquisition of a stake in SkyBridge Capital;
FTX’s acquisition of a stake in SkyBridge Capital is a vote of confidence in the future of the cryptocurrency industry. The move will help to grow FTX’s presence in the digital asset management space and legitimize the cryptocurrency industry to more institutional investors.
FTX is one of the fastest-growing cryptocurrency exchanges, and the acquisition matches FTX’s vision for growth. FTX will help to legitimize and bring more institutional investors into the cryptocurrency space.
SkyBridge Capital is a global investment firm with over $9.2 billion in assets under management. The firm specializes in alternative investments, including hedge funds, private equity, and real estate.
SkyBridge has been investing in the cryptocurrency space since 2018 through its Bitcoin Fund LP.
What do you think of SBF’s acquisition of SkyBridge Capital? Do share your thought with us in the comment section!
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
