Anthony Scaramucci makes predictions about the future of crypto and bolsters his condemnation after FTX betrayal

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SkyBridge Capital Managing Director Anthony Scaramucci says crypto is poised to unleash a wave of economic innovation.

In a new interview at the Blockchain Hub Davos 2023 event, Scaramucci said people shouldn’t give up on crypto just because of the high-profile collapse of crypto exchange FTX and industry criticism that the debacle has ensued.

Scaramucci says he feels betrayed by former FTX CEO Sam Bankman-Fried, who took a 30% stake in SkyBridge just months before it collapsed. However, Scaramucci says the setback did nothing to dampen his outlook on cryptocurrencies.

Treason and fraud are bad on many levels. it sure hurts [my reputation]but i’m just talking about the visceral relationship with someone

And so when you have a friend who betrays you like that, it really sucks, but that doesn’t mean it’s the end of blockchain or crypto. That’s why we have blockchain and crypto, because we’re trying to create a decentralized situation where we don’t have to like or trust each other.

Scaramucci predicts that out of the tens of thousands of blockchain projects, only a few will ultimately survive. Ultimately, he says, the technology will be widely adopted.

There will probably be three or four cryptocurrencies that will survive. Maybe it’s 10. It won’t be 20,000, I don’t think, but maybe I’m wrong.

What is Blockchain? It is this marvelous mechanism of delayering which will remove the intermediaries and the intermediaries, the intermediaries, from our transactions. And if that happens, it will trigger a wave of economic, technological and other innovation. And so at the end of the day, I committed to it.

He likens the current state of crypto to the dot com era that ushered in a massive surge of successful tech companies after an initial bubble collapse.

I cannot predict the future, but I can observe the past. And I can tell you that’s where we are with blockchain. We are in 1998 for the blockchain. And as this thing evolves, and these use cases grow, people are going to be like, why did I miss this? Why did I let the media scare me? Why did I let Sam Bankman-Fried scare me? Why did I let this cycle of volatility deter me from this growth?

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Feature image: Shutterstock/Alberto Andrei Rosu

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