SkyBridge Capital’s Anthony Scaramucci says that for many, this week has been worst in history of crypto
During his appearance on CNBC’s Squawk Box, Skybridge Capital CEO Anthony Scaramucci noted that for many of his investor friends, this week has been the worst in the history of the crypto space, as bitcoin and other digital currencies are going down heavily. .
In particular, Bitcoin and Ethereum dropped well below the $18,000 and $1,500 levels, and BTC even plunged to the $16,500 zone briefly.
FTX Caused “Worst Week in Crypto”
The drop in crypto prices was caused by the bankruptcy of FTX crypto giant and its founder Sam Bankman-Fried and ending with a liquidity gap of more than $8 billion, which Sam is now trying to raise from investors.
Answering a question from CNBC’s Squawk Box co-host Andrew Sorkin, Scaramucci shared that he believes the problems of FTX and Bankman-Fried started in the summer, around June, and back then Scaramucci started wondering where all the money was pouring into FTC and Alameda Reseach from.
The Skybridge CEO admitted that he knew Bankman-Fried personally and was recently on a trip with him as he traveled to the Far East to help Sam with some fundraising.
This happened after Bankman-Fried acquired a 30% stock in Scaramucci’s financial services business. Scaramucci said that on Tuesday of this week, he and his legal and compliance team began discussing whether they could help the FTX chief rescue the situation. They came to the conclusion that it was much more than just a “rescue situation” for FTX and its connection with Alameda Research.
“I don’t want to call it cheating”
Scaramucci said he doesn’t want FTX’s bankruptcy fraud to go so far as to be a legal term. He said we don’t know all the details about what happened, and he would prefer it to be left to the regulators to decide.
However, Scaramucci believes the impact of this event is bad for the crypto industry. He reckons that Bankman-Fried and his parents should have an honest talk with the investors of FTX and tell them the truth about what happened.
