FTX Bankruptcy Group sues Anthony Scaramucci and SkyBridge Capital to seek the recovery of over 100 million US dollars

PANews reported on November 10th, according to Cointelegraph, the bankrupt FTX Group is seeking to recover over $100 million from SkyBridge Capital and its founder Anthony Scaramucci. This is in an attempt to recoup funds spent in sponsorship and investment agreements reached with Scaramucci and SkyBridge by former FTX CEO Sam Bankman-Fried (SBF) since 2022.

According to legal documents dated November 8th, before FTX went bankrupt, Bankman-Fried had a series of investments and partnerships with SkyBridge Capital and Scaramucci - starting with a $12 million sponsorship for Scaracmucci's SALT conference in January 2022. Shortly thereafter, in March 2022, SBF directed Alameda Research to invest $10 million into the SkyBridge Coin Fund. Later on, in September 2022, FTX acquired a 30% stake of the operating company managing SkyBridge's investment tools at a price of $45 million. The lawyers for FTX believe this investment lacked financial sense - arguing that "the FTX Group could have easily purchased" most of the basket of cryptocurrencies invested within the $45 million at much lower cost.