Anthony Scaramucci’s investment firm, SkyBridge Capital, has suspended the redemption of Legion Strategies fund shares following the collapse in stock prices and cryptocurrencies. Bloomberg writes about it, citing knowledgeable sources.

According to the agency’s interlocutors, about 20% of the Legion Strategies portfolio consists of shares of private companies that are hard to sell. For example, the structure invested in Sam Bankman-Fried’s FTX exchange. The other 10% of the allocation is digital assets.

Legion Strategies invests in cryptocurrencies through other funds managed by SkyBridge, including those focused on Bitcoin, Ethereum and Algorand. As of February 28, 2022, almost a quarter of their net assets were invested in this way.

SkyBridge introduced a dedicated Ethereum fund in July 2021. At the same time, Scaramucci announced his intention to apply for the start of a related project. ETFs. In September, the organization raised $100 million in a structure focused on Algorand.

Previously, the company submitted an application to the US Securities and Exchange Commission (SEC) to create a spot bitcoin ETF. In January 2022, the regulator dismissed the petition, explaining that SkyBridge’s practices did not meet the required investor protection requirements.

In June 2022, the Bloomberg Act included information on the company’s plans to reapply.

Recall that in April 2022 SkyBridge submitted an application to the SEC to start a fund to invest in the mining business.

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