SkyBridge raises funds for Algorand fund and files for crypto company ETF

SkyBrideg firm talked about their plans for the SkyBridge Crypto ETF company and also appreciated the presence of Gary Gensler in the SEC as chairman. 

SkyBridge capital planned to expand their business in the crypto based products and services. That is why they filed for the crypto ETF products with the SEC to get approval, on Tuesday. 

In conversation with the CNBC, Anthony Scaramucci, SkyBridge founder and former White House Communications Director, said that they are currently holding $700 million worth of crypto assets and also they managed around $100 million for their Crypto ETF, and they are looking forward to raise additional $100 Million for the Crypto ETF company.

Scaramucci emphasized that crypto is here to stay and regulators should take quick action on this technology. And further added

“This is a lot like Uber — the regulators wanted to knock Uber out of business, but the people wanted Uber and the people won”

Also he said that if they go for long then before that there will be 200 million crypto users in the United States. 

In the present time, SEC’s point of view on crypto products specially lending platforms is not favourable, that is why many players are criticizing Gary Gensler directly & indirectly. But here Scaramucci appreciated the presence of Gary Gensler and said that 

“He’s got a lot of people in Congress that don’t fully understand it. There’s a lot of negativity. I would implore people like Senator Elizabeth Warren to come to a conference like this and sit with people in the industry so she can understand what the protocols actually are …. I think we’ve got to get everybody up the curve in terms of education.”

Read also: Hedge Fund Fraudster Sentenced to 20 Years prison for Ponzi Scheme