Skybridge Capital founder Anthony Scaramucci is putting money behind a new crypto firm formed by Brett Harrison, former boss of the defunct FTX US.
The software company will reportedly create a service that lets crypto traders access both centralized and decentralized markets.
Scaramucci Sticks By FTX US Boss
According to Bloomberg, Harrison said Scaramucci will be using his own funds to back the former CEO’s software venture. The software in mind will let traders write algorithms for their trading strategies, as told by two people familiar with the matter.
“Anthony has been a true mentor and friend to me since I joined the crypto industry two years ago,” Harrison told Bloomberg News. “I’m honored to have him as an investment partner, and know his guidance will be invaluable as I begin this new chapter.”
As previously reported by Bloomberg, Harrison was in the process of seeking funding for his company last month at a valuation of $100 million. Meanwhile, Scaramucci’s investment firm Skybridge had already been closely involved with FTX Ventures. The investment arm of Sam Bankman-Fried’s fallen crypto empire announced in September that it acquired a 30% stake in Skybridge.
After FTX went under, Scaramucci said he’d left for the Bahamas to visit Sam Bankman-Fried and get answers on what had happened. He said he felt that Bankman-Fried had violated his and other investors’ trust, and implored him to tell the truth to regulators.
By contrast, Harrison claims to have had no knowledge of Bankman-Fried’s secret operations at FTX, which industry leaders are calling a massive fraud. In a Twitter thread on Saturday, Harrison explained that he had a strained relationship with the billionaire, who was exerting his influence over FTX US in unwelcome ways.
Despite his objections, Harrison said his relationship with FTX as an entity hurt his ability to secure funding for his new company, due to PR reasons.
“I am proud to be an investor in your new company,” said Scaramucci in response to the thread. “Go forward. Don’t look back. Wishing you the best.”
Bankman-Fried replied to Bloomberg regarding the thread, stating he’d disagreed with much of what Harrison said. However, he refused to start another public argument with the former CEO, as he’d done with the likes of Binance’s CEO.
“I feel bad about what happened to all of FTX’s employees, and wish him the best,” he said.”