Anthony Scaramucci Slams SBF, Calls him Bernie Madoff of Crypto

Parth DubeyVerified Author

January 17, 2023 at 09:18 UTC (1 minute ago)

  • Anthony Scaramucci said that he thought SBF was Mark Zuckerberg of crypto but he turned out to be Bernie Madoff of crypto.
  • The Skybridge Capital founder believes that the “ninth circle of hell” is reserved for Bankman-Fried for betraying his trust.
  • Despite being “betrayed” by SBF, Scaramucci stated that he won’t stop taking risks and praised blockchain technology.
  • The Skybridge executive confirmed that he will be investing in ex-FTX US President Brett Harrison’s new crypto venture.

After numerous arguments and statements produced by people in the crypto space, it is clear that the collapse of the multi-billion dollar crypto exchange FTX was a result of the mismanagement of the funds by its founder, Sam Bankman-Fried, also known as SBF. Expressing his anger, the managing partner and founder of Skybridge Capital, Anthony Scaramucci, stated that he felt betrayed by the actions of the former crypto billionaire and entrepreneur. 

Scaramucci spoke at Casper Lab’s Blockchain Hub event in Davos, Switzerland, on Jan. 16, and revealed that he had placed his faith in SBF and his exchange, FTX. Interestingly, as per an earlier report from Bitnation, the two executives were in close contact, and FTX’s venture arm, FTX Ventures, purchased about 30% stake in Skybridge Capital, a global investment firm based in New York City, United States. 

The Skybridge executive pointed out that he had good relationships with SBF and his family, and when he got to know about the FTX founder’s actions, he felt betrayed. “I have to tell you that the betrayal and the fraud, it’s bad on a lot of different levels, it certainly hurt me reputationally, but I’m just talking about the visceral relationship with somebody,” Scaramucci said during his speech while adding: 

“If anybody here has read Dante Alighieri’s Inferno, you know what the ninth circle of Hell is reserved for […] It’s for the betrayal of a friend who lives with the devil — the ninth circle of hell on the frozen lake.”

It is clear that Scaramucci is not at all happy with the actions of Bankman-Fried, despite the fact that the two had good relations in the past. The former White House Director of Communications stated that he placed his faith in a person he was friends with and trusted and “got it wrong.”

“I’m a high-profile person so my mistakes get wildly magnified, [that’s] totally fine but I’m not gonna stop the risk-taking,” Scaramucci stated while adding: 

“I thought Sam was the Mark Zuckerberg of crypto, I did not think he was the Bernie Madoff of crypto.”

It is also crucial to note that the entrepreneur is not afraid of taking risks and added that he might “probably make that mistake again.” Scaramucci is still a firm believer in blockchain technology and added that a decentralized financial system is very effective as the parties don’t have to like or trust each other but “can transact with each other in a way that the technology basically sanctifies.”

Earlier this week, Scaramucci also confirmed that Skybridge Capital aims to buy back the shares it sold to FTX in 2022. He is also on board with former President of FTX US, Brett Harrison, on a new crypto trading software for big investors.

Parth Dubey

Parth Dubey Verified Author

A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.

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  • William Foster

    William Foster is a editor for the Central Asian and European region. Before he worked as an editor at Acuris (Mergermarket) where he was responsible for documents on startups, private equity deals, fundraising, developments and editorial direction. His most memorable time was at Reuters, where he was both a reporter and editor for various teams.

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