The investment arm of Sam Bankman-Fried's crypto exchange FTX is taking a 30% stake in investment firm SkyBridge Capital. "We're delighted about the transaction and think there's a very bright future for Skybridge and, of course, for FTX," Skybridge founder Anthony Scaramucci told CNBC, which first reported the deal. Skybridge will use a portion of the investment by FTX Ventures to deploy $40 million in cryptocurrency investments to hold on the company's balance sheet, CNBC reported.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
