FTX collapse was a regulatory setback, says former investor

“I think Sam has set us back regulatory,” says FTX investor Anthony Scaramucci

It’s been almost six months since FTX collapsed, and a lot has happened since then, including executives being accused to companies in the industry facing domino effects of his disappearance.

At Consensus 2023, Anthony Scaramucci, former White House director of communications and founder and managing partner of SkyBridge Capital, which invested in the exchange, and Brett Harrison, founder and CEO of Architect and former president of FTX.US, shared their experiences during the fall of FTX and what life has been like ever since.

“It’s important to talk about it because if I can prevent what happened to us from happening to one person, then it’s worth talking about for me,” Scaramucci said.

harrison give up of FTX in late September, weeks before it collapsed. In January, he launched his own company that creates trading infrastructure for large cryptocurrency investors. its start up raised $5 million and is backed by Coinbase Ventures, Circle Ventures, and Scaramucci, among others.

SkyBridge Capital sold a 30% stake to FTX, weeks before the cryptocurrency exchange exploded. “We went from hero to zero on that transaction in about eight weeks,” Scaramucci said.

Neither Scaramucci nor Harrison have spoken to former FTX CEO Sam Bankman-Fried in months. Harrison said the last time they spoke was when he resigned from FTX.US: He said he sent Bankman-Fried a text saying he was leaving, to which Bankman-Fried responded with a red heart emoji .