PEOPLEREGULATION

Tianqiao Capital founder discusses the possibility of FTX relaunch, criticizes Gary Gensler as a malicious regulator

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Tianqiao Capital founder discusses the possibility of FTX relaunch, criticizes Gary Gensler as a malicious regulator

Skybridge Capital co-founder Anthony Scaramucci, in an interview with The Block, discussed the recent community discussion on the restructuring of FTX, stating that he does not see a possibility of FTX restarting. Despite the close relationship between Skybridge Capital and FTX, a restart of FTX would be positive news for Skybridge. However, the reality is that these exchanges are not making much money and are mostly still in the burning money phase. He does not believe that the already closed FTX can quickly return to the market.

FTX Resumes Operations, Reigniting Community Expectations

During a recent hearing in Delaware, FTX's lawyer stated that the resumption of operations may be confirmed in the second quarter of next year when the restructuring plan was submitted in July this year. This news has sparked hope within the community, causing FTX's native token FTT to surge by over 100% at one point.

However, is it really that easy to restart an exchange that has applied for bankruptcy restructuring?

Close Relationship Between SkyBridge Capital and FTX

SkyBridge Capital, an investment firm owned by Scaramucci, has a close relationship with FTX. FTX has acquired a significant amount of shares from SkyBridge Capital, and SkyBridge Capital has also invested in FTX.

Last June, Scaramucci praised SBF when FTX secured a loan of over a billion dollars on the BlockFi lending platform:

FTX founder SBF is the new generation's John Pierpont Morgan, just like J.P. Morgan in the 1970s, providing support, convincing peers to support the banking system during a panic period, ultimately leading to the establishment of the Federal Reserve System.

Scaramucci's Personal Views

Scaramucci mentioned that he is also interested in repurchasing his stake in FTX. The restart of FTX would definitely be a positive development for SkyBridge Capital, but he is highly skeptical of the feasibility of this matter, pointing out that it requires the support of creditors and bankruptcy judges. He believes that a more reasonable scenario would be for FTX to sell its software and license and relaunch under a new brand.

Recently, Scaramucci criticized SEC Chairman Gary Gensler as a malicious regulator on Twitter, warning that his stance will drive more crypto companies overseas.

In response to Coinbase's recent actions, he also tweeted:

If Brian Armstrong leaves the U.S. for London, it will be America's reverse immigration moment. Imagine if Tesla and Einstein hadn't come here but left. Irresponsible and reckless regulators and some very short-sighted politicians will be criticized.