SkyBridge Capital raises $100 million for Algorand-focused fund

SkyBridge Capital, an investment firm, has raised $100 million for a fund focused on the Algorand blockchain. The founder Anthony Scaramucci told CNBC in an interview.

According to the executive, the firm’s cryptocurrency assets under management have reached $700 million. Regulators have little time left to curb the development of the technology if they intend to pursue such plans.

“Cryptocurrencies will take root. It\’s like Uber. Authorities were against such a business, but society prevailed. There will soon be 200 million users of digital assets in the United States.”, he said.

The CEO also disclosed a заявке in SEC to launch ETF on crypto-company equities.

According to the document, the ETF First Trust SkyBridge Crypto Industry and Digital Economy will allocate 80% of the AUM into shares of companies representing the crypto industry’s ecosystem. Direct purchase of cryptocurrencies is not provided.

In the interview, Scaramucci said he does not share the view of Chairman Gary Gensler on the prevalence of fraud and abuse in the digital assets space.

He urged lawmakers skeptical of the industry, notably Elizabeth Warren, to broaden their understanding of the new asset class by participating in industry conferences.

In July, SkyBridge Capital launched a private fund focused on acquiring Ethereum.

In September, the investment firm announced the launch of the NFT-platform Flatter NFT-platform Flatter.

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