FTX Ventures, the investment branch of crypto derivatives exchange FTX, plans to acquire a 30% stake in Anthony Scaramucci-founded SkyBridge Capital.
It is important to note that the the amount of the transaction has not disclosed in the press release.
The company has said:
“FTX Ventures’ investment will provide SkyBridge with additional working capital to fund growth initiatives and new product launches. In addition, SkyBridge will use part of the funds to purchase $40 million worth of cryptocurrency to keep it on the balance sheet as a long-term investment.”
According to FTX CEO Sam Bankman-Fried, over the past year, his team has become intimately acquainted with SkyBridge Capital.
