FTX Ventures Acquires 30% Stake in SkyBridge Capital, Boosting Cryptocurrency Investment

FTX Ventures Acquires 30% Stake in SkyBridge Capital

FTX Ventures, a subsidiary of FTX, has agreed to acquire 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 cryptocurrency and blockchain space.

SkyBridge to Allocate $40 million to Cryptocurrency Investments

As part of the agreement, SkyBridge will allocate $40 million of the proceeds to purchase cryptocurrencies, signaling its confidence in the long-term growth of digital assets. This move aligns with the firm's broader strategy to diversify its portfolio while maintaining a strong focus on blockchain technology.

Anthony Scaramucci Comments on the Deal

Anthony Scaramucci, founder and managing partner of SkyBridge, emphasized that the partnership with FTX Ventures is a strategic move. He noted that the deal will not disrupt the firm's day-to-day operations or alter its overall strategy. Scaramucci highlighted SkyBridge's continued commitment to remaining a diversified asset manager while heavily investing in blockchain innovation.

SkyBridge's Current Asset Management Portfolio

As of June 30, SkyBridge managed approximately $2.5 billion in assets, with over $800 million allocated to digital assets. This significant exposure to cryptocurrencies reflects the firm's belief in the potential of blockchain technology and its role in the future of finance.

This acquisition marks a pivotal moment for both FTX Ventures and SkyBridge Capital, showcasing the growing synergy between traditional asset management and the rapidly evolving cryptocurrency sector.