Scaramucci backs former FTX US executives new crypto venture: report

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Anthony Scaramucci has invested an undisclosed amount of his own funds in a new venture founded by former FTX.US President Brett Harrison.

The anonymous software company is said to offer algorithmic trading services to crypto investors, providing access to private and public markets, according to sources reported by Bloomberg.

Harrison, according to Bloombergs sources, is seeking funding for the new venture at a valuation of up to $100 million.

It’s unclear to what extent the former FTX executive’s fundraising efforts are taking place more broadly.

Harrison claimed his ties to FTX, however, made it difficult to raise funds for his new venture. He said his association with the company has led investors to tell him that we can’t risk partnering with FTX, no matter how good you are or how strong your idea is.

42/49 After that, many conversations eventually led to the same kind of apology: we know you weren’t involved in what Sam and others did, but we can’t risk associating ourselves at FTX, no matter your abilities. or your idea is convincing.

Brett Harrison (@BrettHarrison88) January 14, 2023

SkyBridge Capital, the New York-based Scaramuccis investment firm, had close ties to FTX.

FTX Ventures, the investment arm of the now-defunct crypto exchange, bought 30% of SkyBridge in September 2022, injecting $40 million of capital into the company in the process, which was intended to buy crypto -currencies.

Scaramucci previously said he believes FTX will one day become the Amazon of financial services.

Decrypt has contacted all parties involved for comment.

Brett Harrison and FTX

The tenure of former FTX executives ended in September 2022, shortly before the company’s high-profile crash in November 2022.

Harrison is not the target of any FTX-related legal investigation, but claimed he was seeking a plea deal nonetheless, calling the accusations of wrongdoing on his part on social media frenzied and baseless.

Many former FTX executives have sought plea deals, including former Alameda Research CEO Caroline Ellison and former FTX CTO Gary Wang, who are currently facing formal fraud charges.

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