FTX Ventures have expressed its interest in acquiring a 30% share in SkyBridge Capital (an Investment management company). This news comes as the company is making a lot of deals recently. When an inquiry was made to get the financial terms associated with the deal, both companies declined to comment.
SkyBridge is an investment management company which is lead by Anthony Scaramucci. He plans to use a part of the proceeds he will get from the deal to start a $40 million cryptocurrency investment. Anthony is hoping to hold on to cryptocurrency investments for the long-term.
According to Scaramucci, they are committed to operating as an asset management firm that is highly diversified. They also want to ensure that they remain invested in the blockchain and related products.
Bankman Fried has emerged as a savior for the cryptocurrency sector as a whole. He helped save multiple digital asset platforms when their cryptocurrency prices crashed a few months ago.
Bankman is the head of a big cryptocurrency exchange and it seems that he has no interest in slowing down at all. He commented about how he still has a couple of billion dollars on hand that will be used to help any struggling crypto firms. He believes that moves like this will bring stability to an already struggling industry.
Alameda Research is one of his crypto trading arms through which he spent $200 million for providing stablecoin revolving credit and cash facility.
FTX Ventures is part of the FTX exchange through which it is making investments in the digital assets industry. The company was started with a fund of $2 billion and has become quite popular among struggling companies.
One thing to note here is that FTX is not just throwing money at different companies while expecting nothing in return. In reality, the company is getting shares in return of something worthy.