FTX Ventures Acquires 30% Stake in SkyBridge Capital, Bolstering Blockchain Investment

FTX Ventures and SkyBridge Capital Announce Strategic Partnership

FTX Ventures, the investment arm of FTX crypto exchange, has acquired a 30% stake in SkyBridge Capital, a leading alternative asset manager. The deal, announced on September 9, underscores FTX's commitment to expanding its influence in the digital asset space.

Key Details of the Acquisition

While the financial terms of the deal were not disclosed, SkyBridge Capital will allocate $40 million of the proceeds to purchase cryptocurrencies. These digital assets will be held as long-term investments, reflecting the firm's confidence in the growth of blockchain technology.

SkyBridge Capital's Strategic Position

SkyBridge Capital, founded by Anthony Scaramucci, manages approximately $2.5 billion in assets, including over $800 million in digital assets as of June 30. The firm emphasized that the partnership with FTX Ventures will not disrupt its day-to-day operations or overall strategy.

Commitment to Blockchain and Digital Assets

Anthony Scaramucci highlighted that SkyBridge will remain a diversified asset manager while continuing to invest heavily in blockchain. The deal aligns with the firm's vision of embracing innovative financial technologies and expanding its presence in the cryptocurrency market.

This strategic investment signals a growing trend of collaboration between traditional financial institutions and cryptocurrency firms, further bridging the gap between legacy assets and digital currencies.