coindesk.com
FTX Ventures, the investment arm of the Sam Bankman-Fried-led crypto exchange, is to take a 30% stake in SkyBridge Capital, CNBC reported Friday.
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The investment firm, which is led by Anthony Scaramucci, will use part of the funding from FTX's investment to deploy $40 million in crypto investments to hold on its balance sheet, according to CNBC's Squawk Box.
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SkyBridge's focus has historically been traditional hedge funds, but it pivoted toward crypto during the last bull cycle, with reports in July that it was planning a Web3-dedicated fund.
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Neither FTX nor SkyBridge immediately responded to CoinDesk's request for comment.