Skybridge Capital has suspended withdrawals from its Legion Strategies fund – one of the firm’s funds with crypto exposure. Founder Anthony Scaramucci confirmed the move July 19 in an interview on CNBC, after Bloomberg reported it a day earlier citing anonymous sources.
“Our board made the decision to temporarily suspend until we can raise capital inside the fund,” Scaramucci told CNBC. “The fund is unlevered, so there’s definitely no fear of any liquidation whatsoever and about 18% of the fund is in what we would call crypto exposure.” An independent board also took art in the decision, Scaramucci said.
“Our board made a decision to temporarily suspend until we can raise capital inside the fund and then make sure when people get out they get out orderly,” says @scaramucci. “About 18% of the fund is in what we would call #crypto exposure.” pic.twitter.com/j5AxY871n7
— Squawk Box (@SquawkCNBC) July 19, 2022
Scaramucci mentioned Bitcoin (BTC) and FTX stock as examples of the fund’s...
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