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Scaramucci Calls Out Sam Bankman-Fried as a 'Fraud like Madoff'

Scaramucci Calls Out Sam Bankman-Fried as a 'Fraud like Madoff'

SkyBridge Capital managing partner Anthony Scaramucci has spoken out about the "betrayal" he felt by the actions of FTX founder Sam Bankman-Fried.

Speaking at Casper Lab's Blockchain Hub event in Davos, Switzerland, Scaramucci emphasized that he felt "betrayed" by Bankman-Fried, given that he had a close friendship with both him and his family.

Scaramucci, who once considered Bankman-Fried as the "Mark Zuckerberg of crypto," now believes that he is a fraud like Bernie Madoff and should "go to hell for his betrayal." 

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He stated that his close relationship with the former FTX CEO and his inner circle had damaged his reputation. Scaramucci also added that the "Ninth Circle of Hell" is reserved for traitors like Bankman-Fried.

Explaining his relationship with Bankman-Fried in further detail, Scaramucci ultimately admitted that he bet on someone he trusted and "got it wrong." 

“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,” he added.

However, he has not been deterred by the whole ordeal. Instead, Scaramucci emphasized that he has made a career off of taking risks and, as such, he'll probably make that mistake again.

Similarly, Scaramucci's faith in crypto has not been shaken either. According to what he said in the interview, Scaramucci stresses that FTX's bankruptcy had nothing to do with the underlying value proposition of the technology. 

"That's why we have blockchain and crypto because we're trying to create a decentralized situation where we don't have to like or trust each other. We can transact with each other in a way where the technology basically sanctifies,” he stated.

Scaramucci is working to regain the lost share of his company. He expressed that he is optimistic regarding 30% of the stake acquired by FTX Ventures will be returned by 2023.

In other news, Monex, a Tokyo-based online brokerage, is reportedly interested in acquiring FTX Japan.

Aaron S. , Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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