FTX collapse was a regulatory setback, says former investor

‘I believe Sam has set us again regulatorily,’ says FTX investor Anthony Scaramucci

It has been virtually six months since FTX collapsed, and loads has transpired since then, together with executives being charged to trade companies facing ripple effects from its demise.

At Consensus 2023, Anthony Scaramucci, former White Home comms director and founder and managing associate of SkyBridge Capital, which invested within the change and Brett Harrison, founder and CEO of Architect and former FTX.US president, shared their experiences throughout FTX’s downfall and what life has been like since.

“It’s vital to speak about it as a result of if I can forestall one particular person from having that occur to them what occurred to us then it’s value it to me to speak about it,” Scaramucci stated.

Harrison resigned from FTX in late September, weeks earlier than it collapsed. In January, he launched his personal firm that makes buying and selling infrastructure for big crypto buyers. His startup raised $5 million and is backed by Coinbase Ventures, Circle Ventures and Scaramucci, amongst others.

SkyBridge Capital bought a 30% stake to FTX, weeks earlier than the crypto change exploded. “We went from hero to zero in that transaction in about eight weeks,” Scaramucci stated.

Neither Scaramucci nor Harrison have spoken to former FTX CEO Sam Bankman-Fried in months. Harrison stated the final time they talked was when he resigned from FTX.US: He stated he despatched Bankman-Fried a textual content message telling him he was departing, to which Bankman-Fried replied with a purple coronary heart emoji.

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