SkyBridge CEO Reveals Harrowing Last Days of FTX and Visit to Bahamas

Summary:
• SkyBridge Capital founder Anthony Scaramucci recounted the time he spent with former FTX CEO Sam Bankman-Fried in the Bahamas during the firm’s tumultuous final days.
• Scaramucci found a “war room” of FTX executives and Bankman-Fried apologizing to him for what happened, claiming that the shortfall was due to mislabeling.
• Despite reports, SkyBridge has not been as greatly affected by FTX’s collapse.

Introduction

SkyBridge Capital founder Anthony Scaramucci recently shared his experience of visiting former FTX CEO Sam Bankman-Fried in the Bahamas during the exchange’s harrowing final days at Consensus 2023. The two had a close business relationship prior to FTX’s downfall and faced unexpected challenges during their visit.

Scaramucci’s Visit

Scaramucci traveled to talk face-to-face with Bankman-Fried when CoinDesk reported on FTX’s potentially shaky financial footing. He walked into an unexpected “war room” of distressed FTX executives, where he observed Bankman-Fried looking “disassociated”. According to Scaramucci, Bankman-Fried apologized and claimed that the shortfall was due to mislabeling.

Financial Crimes

Scaramucci likened Financial crimes like this one to infamous Ponzi schemer Bernie Madoff because it is difficult for a large group of people to commit them as there is usually someone who speaks up against it. He suggested that only a small group of individuals were involved in this case, which makes it even more suspicious.

SkyBridge Not Affected

Despite media reports suggesting otherwise, SkyBridge has not been greatly affected by FTX’s collapse according to Scaramucci himself. This could be attributed to their long business relationship before the incident occurred or their separation after it did happen.

Conclusion

Anthony Scaramucci provided insight into his experience visiting Sam Bankman-Fried in the Bahamas during FTX’s tumultuous last days at Consensus 2023 and compared financial crimes such as these ones with Bernie Madoff’s own actions. He also reassured that despite reports, Skybridge hasn’t suffered from this incident too much either.