{"id":516805,"date":"2023-01-19T17:00:55","date_gmt":"2023-01-19T22:00:55","guid":{"rendered":"https:\/\/ktsl888.com\/?p=516805"},"modified":"2023-03-08T07:26:28","modified_gmt":"2023-03-08T07:26:28","slug":"scaramucci-ftx-cannot-be-saved-sam-betrayed-me","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/scaramucci-ftx-cannot-be-saved-sam-betrayed-me\/","title":{"rendered":"Scaramucci: FTX Cannot Be Saved, Sam Betrayed Me"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Anthony Scaramucci, the founder of Skybridge Capital, thinks failed crypto exchange FTX cannot be saved following its bankruptcy filing.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Ex-FTX Boss&#8217; Betrayal<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In an exclusive interview while attending the World Economic Forum in Davos, Switzerland, the founder and American entrepreneur\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/CoinDesk\/status\/21242368\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">opined<\/span><\/a><span data-preserver-spaces=\"true\"> that there is no way the exchange could be saved.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Still, Scaramucci considers the founder of FTX, Sam Bankman-Fried, a friend who was given a seat at the table of \u201chigh-profile people.\u201d The problem is he feels betrayed that Sam<\/span><span data-preserver-spaces=\"true\"> turned out to be \u201cdelusional\u201d and allegedly a fraud.<br \/>\n<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Whether Sam will end up in jail or not, he adds, is up to the jury and the presiding judge.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"><a href=\"https:\/\/ktsl888.com\/news\/solana-up-45-in-last-week\/\" target=\"_blank\" rel=\"noopener \">FTX<\/a>, at its peak, was among one of the largest cryptocurrency exchanges in the world, offering what was, at that time, thought to be a solid trading platform for hundreds of thousands, if not millions, of users.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\"><strong>Related Reading:<\/strong> <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/59-of-bitcoin-holders-are-sitting-on-profits\/\">59% of Bitcoin Holders Are Sitting On Profits<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">However, as the crypto market <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-diamond-hands-dumped-84-5k-btc-ftx-collapse\/\" target=\"_blank\" rel=\"noopener \">cratered<\/a> and Bitcoin slid toward this week&#8217;s trade range of around $20k, cracks began to emerge in FTX.<br \/>\n<\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_516811\" aria-describedby=\"caption-attachment-516811\" style=\"width: 1287px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-516811 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Screenshot273.png?resize=1287%2C529\" alt=\"bitcoin daily chart\" width=\"1287\" height=\"529\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Screenshot273.png?w=1287 1287w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Screenshot273.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Screenshot273.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Screenshot273.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Screenshot273.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Screenshot273.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-516811\" class=\"wp-caption-text\">Bitcoin Price Action | Source: BTCUSD on <a href=\"https:\/\/www.tradingview.com\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Eventually, an explosive piece revealing the misdoings of its founder, Sam Bankman-Fried, and several accounting errors in their finances broke the camel\u2019s back. FTX halted customer withdrawals before news broke out that they were filing for Chapter 11 Bankruptcy protection in the United States. It later emerged that FTX and its trading wing, Alameda Research, had misappropriated billions of customer funds.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Anthony Scaramucci: Skybridge Capital Is Patient<br \/>\n<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Considering the evidence presented and claims from the restructuring officer in charge of FTX bankruptcy proceedings, Anthony Scaramucci said nothing is to be done. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He divulged that his fund wasn&#8217;t spared by the crypto winter and the FTX contagion as market prices slumped, affecting their revenue. Their core fund, Anthony said, was down 30 percent in 2022. In January 2023, there were signs of recovery, and their core funds are up double digits. Scaramucci also confirmed that Skybridge Capital is \u201ccompleted unleveraged\u201d and owns its inventory.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Asked whether he lost money last year, he <a href=\"https:\/\/ktsl888.com\/news\/how-bitcoin-demonetizes-gold-skybridge-capitals-founder-makes-the-case\/\" target=\"_blank\" rel=\"noopener \">confirmed<\/a> that his Bitcoin (BTC) is intact and didn\u2019t lose any monies since he didn\u2019t use leverage. Leverage is a trader borrows money to trade. The borrowed funds, together with the deposit, act as a margin allowing for higher profits. Still, there can be losses if a trader\u2019s an incorrect prognosis. Traders can lose all their deposits if they use leverage and trade any other asset, including crypto.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Anthony revealed that though FTX finds itself in crisis and could dissolve, the exchange was one of the early investors of Skybridge Capital, buying 30% of the fund. As part of the deal, the fund bought 10 percent of FTX\u2019s FTT token only to sell it for a loss of $9.5 million.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\"><strong>Related Reading:<\/strong> <a href=\"https:\/\/ktsl888.com\/crypto\/ftx-ftt-token-spikes-43-a-revival-happening\/\">FTX\u2019s FTT Token Spikes 43%, A Revival In The Works?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Despite this, Antony said they are patient and waiting for \u201cwhat the bankruptcy people say\u201d so that they can buy back their shares. The fund, he explains, isn\u2019t going to blame the disgraced founder of FTX for all woes in the crypto market or <a href=\"https:\/\/ktsl888.com\/news\/skybridge-capital-applies-for-cryptocurrency-etf-and-accumulates-100-million-for-algo-fund\/\" target=\"_blank\" rel=\"noopener \">Skybridge Capital<\/a>. Overall, he remains confident in crypto&#8217;s prospects.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Harvard Political Review, Charts from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Anthony Scaramucci, the founder of Skybridge Capital, thinks failed crypto exchange FTX cannot be saved following its bankruptcy filing.\u00a0 Ex-FTX Boss&#8217; Betrayal In an exclusive interview while attending the World Economic Forum in Davos, Switzerland, the founder and American entrepreneur\u00a0opined that there is no way the exchange could be saved.\u00a0 Still, Scaramucci considers the founder of FTX, Sam Bankman-Fried, a friend who was given a seat at the table of \u201chigh-profile people.\u201d The problem is he feels betrayed that Sam turned out to be \u201cdelusional\u201d and allegedly a fraud. Whether Sam will end up in jail or not, he adds, is up to the jury and the presiding judge. FTX, at its peak, was among one of the largest cryptocurrency exchanges in the world, offering what was, at that time, thought to be a solid trading platform for hundreds of thousands, if not millions, of users.\u00a0 Related Reading: 59% of Bitcoin Holders Are Sitting On Profits However, as the crypto market cratered and Bitcoin slid toward this week&#8217;s trade range of around $20k, cracks began to emerge in FTX. &nbsp; Eventually, an explosive piece revealing the misdoings of its founder, Sam Bankman-Fried, and several accounting errors in their finances broke the camel\u2019s back. FTX halted customer withdrawals before news broke out that they were filing for Chapter 11 Bankruptcy protection in the United States. It later emerged that FTX and its trading wing, Alameda Research, had misappropriated billions of customer funds. Anthony Scaramucci: Skybridge Capital Is Patient Considering the evidence presented and claims from the restructuring officer in charge of FTX bankruptcy proceedings, Anthony Scaramucci said nothing is to be done. He divulged that his fund wasn&#8217;t spared by the crypto winter and the FTX contagion as market prices slumped, affecting their revenue. Their core fund, Anthony said, was down 30 percent in 2022. In January 2023, there were signs of recovery, and their core funds are up double digits. Scaramucci also confirmed that Skybridge Capital is \u201ccompleted unleveraged\u201d and owns its inventory.\u00a0 Asked whether he lost money last year, he confirmed that his Bitcoin (BTC) is intact and didn\u2019t lose any monies since he didn\u2019t use leverage. Leverage is a trader borrows money to trade. The borrowed funds, together with the deposit, act as a margin allowing for higher profits. Still, there can be losses if a trader\u2019s an incorrect prognosis. Traders can lose all their deposits if they use leverage and trade any other asset, including crypto.\u00a0 Anthony revealed that though FTX finds itself in crisis and could dissolve, the exchange was one of the early investors of Skybridge Capital, buying 30% of the fund. As part of the deal, the fund bought 10 percent of FTX\u2019s FTT token only to sell it for a loss of $9.5 million.\u00a0 Related Reading: FTX\u2019s FTT Token Spikes 43%, A Revival In The Works? Despite this, Antony said they are patient and waiting for \u201cwhat the bankruptcy people say\u201d so that they can buy back their shares. The fund, he explains, isn\u2019t going to blame the disgraced founder of FTX for all woes in the crypto market or Skybridge Capital. Overall, he remains confident in crypto&#8217;s prospects. Featured image from Harvard Political Review, Charts from TradingView.com<\/p>\n","protected":false},"author":384,"featured_media":516809,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[71704,83748,84300],"class_list":["post-516805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-sam-bankman-fried","tag-scaramucci"],"acf":[],"yoast_head":"\n<title>Scaramucci: FTX Cannot Be Saved, Sam Betrayed Me<\/title>\n<meta name=\"description\" content=\"Anthony Scaramucci, the founder of Skybridge Capital, thinks failed crypto exchange FTX cannot be saved following its bankruptcy filing.\u00a0 Ex-FTX Boss&#039;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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