Scaramucci Backs Former FTX President in New Crypto Venture

Investing in the Future of Crypto

Anthony Scaramucci, the founder of SkyBridge Capital, has thrown his weight behind Brett Harrison, the former president of FTX US, who is launching a yet-to-be-named crypto software company. This investment comes just a few weeks after the dramatic collapse of the FTX exchange. Talk about timing!

What Will the New Company Do?

While details remain sparse, the venture aims to help crypto traders develop algorithmic-based strategies for accessing various market types, both centralized and decentralized. Sounds fancy, right? If you’ve ever wondered how automated trading works, it looks like Harrison is about to make it a lot easier for you to find out.

Financing Goals and Scaramucci’s Support

Rumor has it that Harrison is aiming for a fundraising target of up to $10 million, valuing the startup at approximately $100 million. If this venture takes off, it could mean significant opportunities for traders looking to optimize their crypto investments.

Scaramucci expressed his enthusiasm on Twitter, stating,

“Brett, I am proud to be an investor in your new company. Go forward. Don’t look back. Wishing you the best.”

A true ally during these turbulent times!

The Great Resignation

Harrison’s transition wasn’t entirely smooth. He left FTX US after a rocky relationship with its founder, Sam Bankman-Fried. This unexpected exit led him to shift his focus towards creating something new. During his departure, he hinted at exciting future plans, which we now see unfolding with Scaramucci’s backing.

2023: The Year for Recovery?

Meanwhile, Scaramucci holds a bullshark’s eye on the crypto market’s recovery potential. In a recent CNBC interview, he optimistically predicts Bitcoin could rebound to highs between $50,000 and $100,000 in the next two to three years. If only wishing upon a star guaranteed wealth!

Current Market Snapshot

For those keeping tabs, Bitcoin is currently trading at $21,240 and has seen a 21.77% increase over the last week. If that doesn’t get your heart racing, I don’t know what will!