Scaramucci Skybridge Capital to Repurchase Firm’s Shares From FTX
Skybridge Capital, a hedge fund founded by Anthony Scaramucci, announced plans to buy back shares sold to now insolvent cryptocurrency exchange FTX.
The move comes after the fund faced backlash from investors over the sale of these shares in this volatile market period.
Retrieve Sold Shares From FTX
According to Scaramucci, the decision to sell shares to FTX was made as a way to diversify the fund’s portfolio and gain exposure to the growing cryptocurrency market.
However, many investors were not comfortable with the level of risk involved and expressed concerns about the fund’s involvement in the crypto space.
In an effort to address these concerns, Scaramucci announced that Skybridge will be buying back the shares sold to FTX and will be taking a more cautious approach to crypto investments in the future. He stated that the firm understands the concerns of the investors, and assures them that they are taking a more strategic approach to crypto investing moving forward.
He stated that buying back these shares is in the best interest of our investors and will help to restore their confidence in the fund.
The move to buy back the shares sold to FTX is a bold one, as it will likely come at a significant cost to the fund.
However, Scaramucci is confident that it is the right decision for the long-term state of the fund and its investors.
He went on to say, this is an important move in making sure that the investors feel comfortable and secure with their investments in Skybridge, and buying back the shares is the best way to achieve that.
Positive Response From Investors
The news of Skybridge’s plans to buy back the shares sold to FTX has been met with a positive response from investors, many of whom have expressed their support for the move. Some experts believe that this could be a turning point for the fund, as it shows that the management team is willing to listen to the concerns of its investors and take action to address them.
The crypto market is still relatively new and volatile, and it is important for investors to be aware of the risks involved.
Skybridge’s decision to buy back shares from FTX and take a more cautious approach to crypto investing is a step in the right direction and is likely to restore investor confidence in the fund.
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