[Delio] CEO of Skybridge Capital Antony Scaramucci: “FTX’s Acquisition of BlockFi is a Signal that the Bear Market is Over”

Anthony Scaramucci, the founder of Skybridge Capital, claims that the bailout of BlockFi by FTX CEO Sam Bankman-Fried is a sign that the bear market may have reached the bear market’s bottom and won’t fall more, crypto media The Daily Hodl reported on July 4.

In a recent interview with CNBC, Scaramucci acknowledges that despite the fact that the crypto market is facing significant difficulties, he rejects the idea that cryptocurrencies have no intrinsic value and is nonetheless upbeat about the long-term prospects of digital assets.

BlockFi received a $400 million credit line from the US division of Bankman-Fried’s cryptocurrency exchange FTX last week, with an option to acquire the business for up to $240 million.

“It may not have protected the equity there, but it’s certainly protecting the depositors and I think in Sam’s case, he’s looking for customer acquisition, and I think he sees this as a broad opportunity to get those customers through BlockFi,” Scaramucci commented on the transaction.

Source: THE DAILY HODL

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