FTX is trying to recover over $100 million from SkyBridge Capital and its founder, Anthony Scaramucci. This is due to the financial relationship between FTX’s former CEO, Sam Bankman-Fried, and Scaramucci since 2022. They are looking to recover funds spent on sponsorship and investment agreements with SkyBridge.
According to a recent filing, Bankman-Fried made several investments and partnerships with SkyBridge Capital and Scaramucci before FTX’s collapse. Some of these investments include $12 million in sponsorship for Scaramucci’s SALT conference in 2022, $10 million directed by SBF to Alameda Research to invest in the SkyBridge Coin Fund, and FTX acquiring a 30% stake in the company managing the SkyBridge investment vehicle for $45 million.
FTX’s lawyers argue that the investments lacked financial sense and that the company could have purchased a basket of cryptocurrencies at a much lower cost.
