SkyBridge Capital, the investment firm founded by Anthony Scaramucci, suffered significant crypto-related losses during the 2022 digital asset crash and later volatility in crypto markets.
Key reported losses and setbacks included:
1. SkyBridge’s flagship fund-of-funds was down about 25% in 2022 during the crypto selloff, according to Institutional Investor.
2. Investors reportedly requested nearly $900 million in redemptions during that period as crypto markets collapsed.
3. The firm had exposure to crypto investments such as $BTC , $ETH , NYDIG, and Brevan Howard’s digital asset fund.
4. SkyBridge also faced fallout from the collapse of FTX after FTX Ventures bought a 30% stake in the firm in 2022. SkyBridge later tried to repurchase that stake following FTX’s bankruptcy.
5. By 2023, reports said SkyBridge’s assets under management had fallen to roughly $2 billion from a peak near $9 billion in 2015, while investors had lost around 30% from early 2020 through March 2023.
Despite the losses, Scaramucci has continued publicly supporting crypto investments, especially Bitcoin and $SOL -related projects, arguing that long-term adoption and regulation could strengthen the sector.