Bankrupt cryptocurrency exchange FTX has filed a lawsuit against Anthony Scaramucci and his hedge fund, SkyBridge Capital, as part of its ongoing efforts to recover funds for creditors. The lawsuit, filed in Delaware’s bankruptcy court on Friday, is one of 23 cases FTX has initiated to claw back funds allegedly spent on high-profile, “showy investments.”
The legal complaint accuses FTX’s former CEO, Sam Bankman-Fried, of orchestrating a “campaign of influence-buying” during the 2022 crypto market downturn. According to FTX, Bankman-Fried poured significant resources into relationships with figures like Scaramucci, aiming to bolster his standing in political and financial circles rather than benefiting FTX.
In the filing, FTX alleges that Bankman-Fried invested $67 million into SkyBridge Capital while Scaramucci was reportedly “seeking a bailout” due to a decline in SkyBridge’s assets under management, which had dropped from $9 billion in 2015 to $2.2 billion in 2022. In September 2022, Bankman-Fried announced that FTX’s venture arm would acquire a 30% stake in SkyBridge, though terms were not disclosed. Scaramucci stated at the time that the investment reflected his “long-term vision” for the firm.
Shortly after the acquisition, FTX collapsed into bankruptcy, and Bankman-Fried was later arrested in the Bahamas on fraud charges. The lawsuit argues that these investments “conveyed little to no benefit” to FTX and only served to boost Bankman-Fried’s personal influence.
Other entities named in FTX’s multiple suits include Crypto.com and political organizations such as FWD.US, the advocacy group co-founded by Meta’s Mark Zuckerberg, which also allegedly received funds during the same period.
The case against Scaramucci and SkyBridge Capital is part of FTX Trad. Ltd., filed under case No. 22-11068 in Delaware’s bankruptcy court on November 8, 2024.
