Scaramucci - Algorand Investors

Scaramucci Algorand
Anthony 'The Mooch' Scaramucci - Algorand Investor

Anthony Scaramucci - Algorand Investor

Last Reviewed: January 2023

This article is a part of the series "Algorand Key Figures", which features summarized insight into key personalities who are working on or supporting the Algorand ecosystem and growth. First up is Anthony Scaramucci - an Algorand heavy-weight investor and substantial supporter of its technology. 

For those who more interested in the actual technology of Algorand, rather than the people behind it, I suggest reading The Algorand Blockchain Explained. It's one of the most popular Algorand Guides on this site. 

Who is Anthony Scaramucci?

Anthony Scaramucci is an experienced investor and financier who have at times engages in politics as well, of which his most noticeable position being the White House Communications Director. He is the founder of the investment firms Oscar Capital Management and SkyBridge Capital, the latter which have a significant cryptocurrency investment of which a large stake is in Algorand. Scaramucci has long been a proponent of crypto and blockchain technology.

His Background

Anthony Scaramucci was born 1964 into an Italian American family. He got a bachelor's in economics from Tufts University and later earned his J.D. from Harvard Law School, although after graduating he never practiced law and instead started working for the global investment-firm Goldman Sachs in 1989.

Once he left Goldman Sachs he cofounded Oscar Capital Management, which he sold in 2001 but kept there until 2003. In 2005 he went on to found SkyBridge Capital, a successful global investment firm which is still ran by him today, as well as Brett S. Messing, Raymond Nolte and Troy Gaveski.

Anthony Scaramuccis political activities increased in 2008, when he was a fundraiser for Barack Obamas presidential campaign. He served as the national finance co-chair for Mitt Romney's 2012 presidential campaign. Despite voicing criticism for Donald Trump in 2015, he ended up signing onto Trumps 2016 presidential campaign after Jeb Bush had forfeited. After Trump winning the presidential election Scaramucci was designated the role of White House Communications Director, albeit it being short-lived as he publicly criticized the administration. 

💡 Wanna invest like 'The Mooch'? 💡
In order to understand Scaramuccis basis for investing into Algorand you can start by reading my Top 6 Reasons Why To Invest in Algorand.

What is SkyBridge Capital 

SkyBridge Capital is a global investment firm based in New York and Florida, which is run by its founder Anthony Scaramucci. It's approximate value is $2.2 billionSkyBridge offers digital assets and fund of hedge funds products including SkyBridge Multi-Adviser Hedge Fund Portfolios LLC – Series G. The company manages over $800 million in digital-related assets (such as cryptocurrencies like Algorand and Bitcoin), which it started to invest in November of 2020. 

Additionally, SkyBridge Capital also hosts a global capital introduction invention known as "SALT" (SkyBridge Alternatives Conferences), which takes place in the United States, Singapore, and Abu Dhabi. 

FTX Algorand Skybridge Capital
FTX Bankruptcy announced in November of 2022.

FTX bankruptcy and SkyBridge Capital

While SkyBridge Capitals fund of funds didn't have any exposure to the scandalous Terra Luna or Celcius, it did in the later years exist in close proximity with FTX. 

FTX is a cryptocurrency exchange and venture company that bought a 30% stake in SkyBridge Capital in September of 2022. Only a couple months later in November 2022 it however turned out that FTX was insolvent and didn't have actual funds to back their customers' investments, which led to FTX filing for bankruptcy and Sam Bankman-Fried stepping down as CEO. 

Because of the situation Anthony Scaramucci was looking to buy back the previously sold stake of his company from FTX, meeting with Bankman-Fried, which was reported by CNBC in an interview with Scaramucci. A couple days after the interview Scaramucci had reportedly commented that the deal had been paid for in advance and that the collapse of FTX had not left him without payment. 

Furthermore, SkyBridge and FTX was co-hosting the Crypto Bahamas, a gathering of the leading investors and developers in the blockchain, digital assets, and Web3 space.

Recommended Read:

Crypto Bahamas
Crypto Bahamas - A pleasant place to discuss blockchains.

Scaramucci & Algorand

Anthony Scaramucci have repeatedly commented in interviews about Algorands superiority as far as blockchain technology goes. He even went as far as calling Algorand 'The Google of Crypto'. In a second interview there was another comment by Scaramucci 'Algorand is going to the winner' in TradFi's blockchain push.

Is Scaramucci invested in Algorand?

Scaramucci have been invested in Algorand since at least 2021. During a SALT hedge fund conference that same year Scaramucci announced that through SkyBridge Capital raised over $100 million USD for an Algorand fund, mentioning that the maximum target was $250 million USD. 

Final Words

Hopefully this article have given you some insight into Anthony Scaramucci is involved and invested in Algorand through SkyBridge Capital. Just keep in mind that any investments mentioned in the article and it's values is prone to change throughout time.

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Article Author: Martin
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