SBF continues to buy bottom? FTX makes another bid to acquire 30% stake in Tianqiao Capital

22-09-14 14:50

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Original source: FTX

According to "Financial Times" Report that FTX Ventures, the venture capital arm of FTX, will buy a 30% stake in Skybridge Capital, which was founded by former White House Communications Director Anthony Scaramucci and has aggressively entered the crypto market since last year. . In response to this transaction, both parties expressed on Twitter that they look forward to the follow-up cooperation.

Skybridge Capital began investing in the crypto space at the end of 2020. In April of this year, founder Anthony Scaramucci said that half of the $3.5 billion managed by Tianqiao Capital was related to encrypted assets. At that time, he said that he hoped to become a "management company for encrypted assets" and expected that the assets under management would increase by three times in the future. times, reaching $10 billion.

Affected by the collapse of the encryption market, Tianqiao Capital seems to be also affected. Monthly suspension of user redemption.

However, Anthony Scaramucci remains confident in crypto assets. He pointed out that many institutions including BlackRock and Coinbase have begun to establish Bitcoin trusts, which indicates the potential institutional demand in the encryption market.

Anthony Scaramucci is very excited about the acquisition:

“ I'm also very excited, today was a great day. Sam is a visionary and we will discuss and realize the vision together."

Should Details of the transaction were not disclosed, but Anthony Scaramucci said $40 million of the funds would be used to buy cryptocurrencies and hold them for the long term.

Continue to buy and continue to expand

According to "Bloomberg", since this year, SBF has been buying at low prices, including:< /p>

2022/02/02: FTX acquired Japanese compliance exchange Liquid, and finally changed its name to FTX Japan

2022/03/22: FTX US acquired Good Luck Games, merged into FTX Gaming

2022/05/02: SBF purchased $648 million in Robinhood stock, about 7.6%

2022/06/17: FTX acquired Canadian exchange Bitvo, entering the Canadian market

2022/06/17: Alameda provides Voyage Digital with a loan of approximately US$485 million

2022/06/22: FTX US acquires Embed to provide FTX Stocks services

2022/06/30: FTX US provides $640 million in loans to BlockFi, of which $240 million can be converted into BlockFi equity

SBF's encrypted layout, Source: Bloomberg

Plus For this acquisition, SBF will complete at least eight acquisitions this year.

On the other hand, FTX has also made breakthroughs at the global regulatory level. Institutional investors provide derivatives trading services.

There are also reports that FTX may acquire a stake in South Korean crypto exchange Bithumb.

FTX US Derivative also hired former CFTC Commissioner Jill Sommers earlier this month to help with future regulatory compliance and integration into financial markets.

In general, this transaction to acquire 30% of Tianqiao shares continues the strategy of SBF, the founder of FTX, to continue to expand in the bear market, and continue to play the role of the last in the encryption market Borrower.