Home News SkyBridge Capital raises $100 million for Algorand Fund

SkyBridge Capital raises $100 million for Algorand Fund


The global investment firm SkyBridge Capital has raised $100 million in a fund focused on the Algorand blockchain. The founder Anthony Scaramucci announced this in an interview with CNBC.

According to Anthony, the volume of assets in the cryptocurrency under the management of the company has reached $700 million. Regulators have little time left to stop the development of the technology if they have such plans.

“Cryptocurrencies will take root. It’s like with Uber. The regulators wanted to knock Uber out of business, but the people wanted Uber and the people won. There will soon be 200 million users of digital assets in the United States, ” Scaramucci said.

Application to the SEC for launching an ETF

The CEO of SkyBridge Capital also announced an application to The U.S. Securities and Exchange Commission (SEC) to launch an ETF for shares of crypto companies.

According to the document, the First Trust SkyBridge Crypto Industry and Digital Economy ETF will direct 80% of the assets under management (AUM) to shares of companies representing the crypto industry ecosystem. The purchase of cryptocurrencies is not directly provided.

In an interview, Scaramucci noted that he does not share the views of the head of the Commission, Gary Gensler. About the prevalence of fraud and abuse in the field of digital assets. He invited congressmen with a negative attitude to the industry, in particular Elizabeth Warren, to expand their knowledge about the new asset class by participating in industry conferences.

Flatter NFT Platform

NFT word on abstract background. 3d rendering

Recall that recently the investment company announced the launch of the Flatter NFT platform with 2 different non-fungible tokens (NFT).

The first package of NFT represents 140 bottles of “rare” whiskey. All of them with the image and signature of the head of SkyBridge Capital Anthony Scaramucci on the label. Moreover, the collection includes a ticket to the annual SALT 2022 conference. In addition, there are two entrances to a VIP dinner with the French digital artist 8th Project, who developed the design of the token.

Thus, NFTs are sold in three blocks at a price of 1 ETH ($3,220), 1.25 ETH ($4,026) and 1.5 ETH ($4,831). Payment is accepted, including in US dollars. Part of the proceeds will go to the US Olympic and Paralympic Committees.

The second batch of NFT contains five lifetime VIP tickets for SALT. The token includes admission for two and special service at the conference, breakfast and coffee break with Scaramucci himself, as well as invitations to SkyBridge Capital events.

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