SkyBridge's Anthony Scaramucci said the investment firm is working on buying back its equity from Sam Bankman-Fried’s FTX.In September, FTX's investment arm, FTX Ventures, agreed to buy 30% of SkyBridge for an undisclosed amount. SkyBridge’s plan was to use some of the funds to buy $40 million in cryptocurrencies to hold on its balance sheet as a long-term investment.In a CNBC interview Friday, Scaramucci added that SkyBridge had no assets in custody on FTX to avoid any potential conflicts of interest.Scaramucci recommended on CNBC that Bankman-Fried disclose FTX’s events to regulators to clea

Based on the current risk situation, Sequoia Capital has announced the cancellation of its $213.5 million investment in FTX Global Growth Fund III.On November 10, Sequoia Capital shared on Twitter the note it sent to Global Growth Fund III about FTX. The statement said the liquidity situation created a solvency risk for FTX. The full nature and extent of this risk is unknown. Based on its understanding of the current situation, Sequoia is reducing its investment to $0.Here is the note we sent to our LPs in GGFIII regarding FTX. pic.twitter.com/Cgp1Yxk1pz— Sequoia Capital (@sequoia)    Novemb

Binance CEO Changpeng Zhao (CZ) on Wednesday tweeted an internal note that he had shared earlier in the day with Binance employees. CZ said he was sharing the note - in which he addresses the ongoing situation with FTX - in the spirit of transparency, The full note is below:Source: Twitter

October data showed a continued deceleration in the pace of crypto venture capital investment to under $1 billion a month, JPMorgan said in a research report last Thursday.The downtrend began last May following the Terra collapse, said the report authors led by Nikolaos Panigirtzoglou, and the weak October numbers suggest more than just a seasonal summer slowdown.The current level of venture capital investment of $500 million to $1 billion per month gives an annual rate of almost $10 billion, which is less than one-third of last year’s pace, they wrote.Panigirtzoglou called it a worrying devel

Digital asset platform Bakkt has entered into an agreement to acquire Apex Crypto, LLC from Apex Fintech Solutions, Inc. According to the agreement, Bakkt is expected to acquire Apex Crypto for the price tag of $200 million, making its first payment of $55million at the closing of the deal. The transaction will likely be completed by the first half of 2023 and is subject to regulatory approvals.  Launched in 2019, Apex Crypto is a “turnkey platform” dedicated to integrated crypto trading, built with the intention of meeting the increasing demands of more than 30 fintech firms and their growing

Digital asset platform Bakkt Holdings (BKKT) said it will acquire crypto trading infrastructure firm Apex Crypto from Apex Fintech Solutions, the firm said on Thursday. Bakkt, which is majority-owned by the Intercontinental Exchange (ICE), will initially pay $55 million in cash at the closing of the deal, and up to $145 million in Bakkt stock and senior note upon achievement of some financial targets. The deal will deliver revenue diversification and synergies for Bakkt and help the firm expand its crypto client base. Established in 2018, Bakkt initially raised $182.5 million to build out its

Binance founder and CEO Changpeng CZ Zhao is looking into potentially buying banks as a way of bridging the gap between the worlds of traditional finance and crypto, according to an interview Zhao did with Bloomberg at the Web Summit conference in Lisbon. Zhao did not name any specific targets. “There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. We’re looking at those things,” Bloomberg quoted Zhao as saying. Zhao also noted that investing in banks is a smart strategy for Binance since when the crypto exchange works with a ban

According to Tuesday’s bankruptcy filings, Generate Capital is purchasing bitcoin mining hosting provider Compute North’s share in two mega-mining facilities for $5 million.Compute North did not receive any other qualified offers for the assets in the run-up to the sale, therefore, the auction was canceled, and the agreement with Generate Capital was finalized.Generate Capital has no plans for a merger or reorganization due to the transaction. Other-party assets used at the sites but held by third parties are not covered by the agreement.New documents in Compute North’s bankruptcy proceedings

According to a filing with the Securities and Exchange Commission, state-chartered digital asset bank Custodia has raised $7 million.Caitlin Long, a Wall Street veteran launched the company in 2020. Custodia, formerly known as Avanti, received a $37 million Series A financing in March of last year. Binance.US, Coinbase Ventures, and Lemniscap are among its supporters.According to the filing, the initial sale for this equity round occurred in early October, and the business has a total of 36 investors. The startup’s total investment has now reached $51 million.Custodia’s Series A round of fundi

CZ, Changpeng Zhao, the CEO of the world’s largest crypto exchange, has disclosed his wish to help the new Twitter CEO, Elon Musk, bring the most popular social media platform on the Web3. In an interview with CNBC, CZ expressed his desire to empower the global free speech platform that he uses very heavily.  Recently, Elon Musk completed the $44 billion Twitter acquisition to become the new CEO and fired the top 3 executives of the company. However, Binance which invested $500 million in Musk’s purchase, emphasized various reasons for supporting the deal. CZ believes that Twitter is widely us