SkyBridge Suspends Redemption of Shares of One of its Funds
SkyBridge Capital, an investment company owned by Anthony Scaramucci, has suspended the redemption of Legion Strategies fund shares after a collapse in stock prices and cryptocurrencies, Bloomberg has learned.
According to the sources of the publication, about 20% of the Legion Strategies portfolio is accounted for by shares of private companies, which are not easy to sell. For example, the structure has invested in Sam Bankman-Fried-owned crypto derivatives exchange FTX, whereas another 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. Almost a quarter of his net assets were invested in this way at the end of February.
The company launched a private Ethereum fund in July last year. At the same time, Scaramucci announced he planned to apply for the launch of an ETF.
