Anthony Scaramucci is one of the most prominent names in finance, Wall Street, and politics. As the Founder and Co-Managing Partner of SkyBridge Capital, he has earned immense success in the investment world. Scaramucci’s expertise includes investment strategy, entrepreneurship, and more. Recently, he appeared in Consensus 2023 LIVE conference, where his valuable insights added a lot of value to the event. In this article, we take a closer look at Scaramucci’s experience and provide an SEO friendly description of his appearance at Consensus 2023 LIVE.
Anthony Scaramucci Discusses FTX Collapse and SkyBridge’s Future
Anthony Scaramucci, founder of SkyBridge Capital, recently spoke at Consensus 2023 regarding the collapse of FTX and its implications for his company. While some have speculated that Binance CEO Changpeng Zhao played a role in FTX’s failure, Scaramucci places the blame solely on former FTX boss Sam Bankman-Fried.
Despite selling a 30% stake in SkyBridge to FTX Ventures just weeks before the collapse, Scaramucci maintains that his company has weathered the storm well, stating that the last quarter has been the best in ten years for his firm. While SkyBridge has been in contact with bankruptcy lawyers regarding their stake in FTX, Scaramucci believes that they will ultimately be okay, whether or not they can buy back the stake later.
Scaramucci also discussed his relationship with Bankman-Fried, saying that he likes him despite recognizing his behavior as a betrayal. Fortunately, many of the influential figures introduced to Bankman-Fried, including Tony Blair and the Clinton family, had not finished their due diligence processes or made large investments in FTX before it collapsed.
Scaramucci learned of FTX’s troubles on November 7th, when Bankman-Fried’s father informed him of the company’s “asset-liability mismatch” of roughly $1 billion. Later that evening, the number ballooned to $4.5 billion. Scaramucci then traveled to the Bahamas to speak with Bankman-Fried, describing the “war room” as despondent.
According to Scaramucci, some have accused Zhao of putting Bankman-Fried out of business, but he maintains that this was not the case. Meanwhile, Kevin O’Leary, a former paid spokesperson for FTX and a witness at a recent Congressional hearing, has blamed Binance for causing market instability and panic that led to FTX’s collapse. However, he has expressed his willingness to reinvest in Bankman-Fried under the right conditions.
Scaramucci is less confident about FTX’s potential for a 2024 revival, stating that he sees it as an impossibility. Though he acknowledges the possibility of rebranding, he does not see how FTX can restart.