It is understood that crypto software companies enable crypto traders to develop algorithmic-based strategies to reach different markets.
SkyBridge Capital founder Anthony Scaramucci is investing in the crypto company founded by the former president of FTX US.
Scaramucci said in an email to Bloomberg that he would put his personal money to back former FTX US president Brett Harrison’s new venture, which was unveiled just three weeks after the collapse of crypto exchange FTX.
It is understood that the crypto software company — still unnamed — will enable crypto traders to create algorithm-based strategies to reach different markets, both centralized and decentralized
It is also understood that Harrison is asking for a fundraising goal of up to $10 million for a $100 million valuation.
Responding to his time at FTX US after tweeting Jan. 14 in response to Harrison’s lengthy thread about Sam Bankman-Fried, Scaramucci said he was “proud” to be an investor in Harrison’s new company.
Harrison responded to the tweet by thanking Scaramucci: “Your support and advice mean the world to me. We can’t wait to work together!”
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However, the amount of capital deployed in Scaramucci was not disclosed.
Harrison’s new crypto venture was first hinted at on Sept. 27, when he announced he was leaving his role as president of FTX US.
At the time, he said he was stepping down as president but would remain with the exchange as an advisor over the next few months.
“I can’t wait to share more of what I do next,” he said at the time.
In his most recent Twitter thread, Harrison revealed he left the firm after the relationship with Bankman-Fried suddenly deteriorated, and the troubles kept him “focused on his future and my own company”.
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Meanwhile, Scaramucci continues to have high hopes for a crypto-market recovery this year, describing the market outlook for 2023 as a “recovery year”.
In an interview with CNBC on January 15, the crypto investor said he expects bitcoin (BTC) to return to $50,000-$100,000 within the next two to three years.
“You take risks but you also believe in [bitcoin] adoption. So if we get the adoption right, and I believe we will, it could easily be a $50,000 to $100,000 asset in the next couple of years,” he said
At the time of publication, Bitcoin was currently trading at $21,240, up 21.77% over the past week.
