SkyBridge Capital CEO Anthony Scaramucci said that his firm can buy back the stake of the company it sold to FTX back in September last year. While Galaxy Digital CEO Mike Novogratz has indicated that he would be tempted to “punch” SBF right in the jaw.
SkyBridge and FTX
FTX Ventures acquired a 30% stake in the alternative asset manager SkyBridge for an undisclosed fee on Sept. 9, just a couple of months before FTX filed for bankruptcy in November.
Speaking to CNBC on Jan. 13, Scaramuci noted that in light of FTX’s troubles, SkyBridge is making progress in buying back that stake, but suggested the move wouldn’t be able to get sorted “until probably the end of the first half of this year.”
“We’re waiting for the clearance from the bankruptcy people, the lawyers and the investment bankers to figure out exactly what we’re going to be buying back, and when,” the CEO said, adding that “I think it will resolve itself favorably.”
Speaking on former FTX CEO and founder Sam Bankman-Fried, Scaramucci outlined his thoughts that there has likely been some foul play there.
“I think it’s very clear now that there was fraud. We’ll of course have to let the legal system determine all of those things. But for Sam, he’s got three of four of the principles that have worked alongside him have already pled guilty, and explained to prosecutors what they did,” Scaramucci said.
The CEO’s comments provide a stark contrast to his previous statements to CNBC from November, in which Scaramucci refused to use the “fraud” word due to its legal ramifications, and urged “Sam and his family to tell the truth to their investors, get to the bottom” of the whole debacle.
According to SkyBridge’s website, it had $2.2 billion worth of assets under management as of Sept. 30, 2022, with roughly $800 million of the figure comprised of digital-asset-related investments.
Galaxy CEO looking for a smackdown
Galaxy Digital CEO Mike Novogratz says there is a side of him that would like to punch both SBF and Digital Currency Group CEO Barry Silbert for their reported antics during crypto winter.
In an interview with Bloomberg posted on Jan. 13, Novogratz noted that the FTX ordeal ended up directly costing Galaxy around $77 million. As such he’s not a huge fan of SBF and other alleged misbehavior in the space over the past year.
“The toxic masculine side of me would like to punch them both in the jaw,” he said of SBF and Silbert, before adding specifically on SBF: “You’ve got to be f—ing kidding me. Like, really, you a——?”
Related: Crypto community unimpressed by SBF’s lengthy Substack letter
Novogratz ultimately admitted that he is still a crypto proponent despite 2022 being such a wild year for the industry.
He did note however, that he wished he had taken more capital off the table earlier in 2022 before FTX and even the Terra/LUNA ecosystem went bust. Still, he says he managed to get more than $1 billion out before that year began.
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