Latest news with #Scaramucci
Yahoo
2 hours ago
- Business
- Yahoo
Exclusive: Anthony Scaramucci's SkyBridge Capital to tokenize $300 million on Avalanche
Another investment firm is putting funds on the blockchain. Anthony Scaramucci, founder and managing partner of SkyBridge Capital, announced Tuesday that his company plans to hold around $300 million from two funds in the form of tokenized assets. SkyBridge's move comes amid a wave of enthusiasm for what the crypto industry calls tokenization. The process entails creating digital token versions of real-world assets like Treasury bills, which can be easily traded on a blockchain in the same way as Bitcoin or stablecoins. 'I'm basically seeing 2026 into 2027 as the age of real-world tokenization,' Scaramucci, a former Goldman Sachs executive who had a brief stint at the White House during President Donald Trump's first term, told Fortune. SkyBridge Capital plans to deploy its tokenized funds on Avalanche, a blockchain that boasts almost $2 billion in assets on its network, according to crypto analytics provider DefiLlama. The amount of money that SkyBridge will deploy is about 10% of his firm's assets under management, Scaramucci told Fortune. One of the two funds he's tokenizing specializes in investments in cryptocurrencies like Bitcoin that have not been deemed securities by the Securities and Exchange Commission, according to SkyBridge's most recent investor disclosure. The other is a fund of funds composed of SkyBridge's other investment vehicles, including both its venture and crypto funds. Advocates say issuing products like investment funds on decentralized networks can reduce transaction fees and cut out middlemen. Traditionally, there are a series of individuals between the buyers and sellers of financial assets, each of whom has to vet and evaluate the origin of, say, a stake in a fund—even if that fund is made up of cryptocurrencies already on blockchains. Each of these middlemen can charge fees and slow the process down. Blockchains are decentralized databases, meaning that no one party can tamper with the information stored on the network. Hence, there theoretically does not need to be a middleman to verify the owner and authenticity of a financial asset issued on it. Users can look up the details themselves. While proponents have lauded the virtues of tokenization for some time, the business of putting real-world assets on blockchains is still nascent, though it appears to be gaining momentum. Financial heavyweights like BlackRock, Franklin Templeton, and VanEck have recently issued their own money-market funds onto a series of blockchains like Solana and Aptos. Eventually, advocates envision a world where investors can buy and transfer their stakes in various funds without having to wade through spreadsheets or repeated calls to banks to wire money. SkyBridge Capital plans to partner with Tokeny, a company that specializes in tokenization, to put its funds on Avalanche. 'Ultimately, we want to achieve two things,' said John Wu, the president of Ava Labs, one of the main developers behind the Avalanche network. 'One is to bring activity on chain from the traditional finance world and also show the world that this technology can benefit them in terms of cost savings.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
08-08-2025
- Business
- The Hill
Scaramucci: 50-basis-point cut from Fed possible next month
President Trump's former communications director Anthony Scaramucci on Friday said the Federal Reserve could reduce the interest rate following the onslaught of tariffs. 'I think the economy is weakening and you may even get a 50-basis-point cut from the Federal Reserve in September,' Scaramucci told MSNBC. Trump has been urging Federal Reserve Chair Jerome Powell to lower rates and has threatened to nix him over inaction. However, ultimately the leader decided against the move in an effort not to rattle the markets. Economists who previously predicted a recession due to fluctuating trade policy have now seen gains and some including 'Shark Tank' investor Kevin O'Leary have lauded Trump for negotiating tariff rates expected to generate billions. 'The economy is doing better than people had expected, but I think that's a lot of front-loading, Joe. And just to use that Wall Street term, people are looking at those tariffs, they front-loaded a lot of activity before those tariffs went into effect, the result of which you've had decent numbers now, but you are seeing some deceleration,' Scaramucci said earlier on the segment. 'And of course, a lot of American companies, like General Motors, who took an $800 million charge to absorb some of those tariffs, are not going to be able to do that permanently unless there's more flexibility on the tariffs. So it's a mixed bag, in quick summary,' he added, evaluating the financial impact of Trump's first six months in office. White House trade adviser Peter Navarro said the Fed may have cut interest rates earlier if recent job reports were more accurately presented. The Bureau of Labor Statistics reported that 73,000 jobs were created last month after correcting May's report to reflect the creation of 19,000 jobs compared to an initial report of 144,000. The Bureau also corrected the number from June to 14,000 job adds after an initial report of 147,000. 'It's is that if we had gotten that data when, when we should have got that data, the Federal Reserve yesterday would have lowered interest rates by at least 50 basis points. So you think so kind of incompetence or political no question about it,' Navarro said during an appearance on NewsNations' 'The Hill with Blake Burman. 'I mean, look, you had three months that were two months that revised significantly downward, one which was lower than expectations. I mean, the Fed, that's a completely different picture. I mean, there was a strong case for a 50 day there's an overwhelming case for a 50 basis point cut,' he added.
Yahoo
30-07-2025
- Business
- Yahoo
Anthony Scaramucci Says It'll Be A 'Big Deal' If Jamie Dimon-Led JPMorgan Allows Lending Against Bitcoin
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Anthony Scaramucci, the founder of SkyBridge Capital, said Monday that JPMorgan Chase & Co.'s (NYSE:JPM) reported plan to allow clients to borrow against their Bitcoin (CRYPTO: BTC) holdings has the potential to change the financial dynamics of the leading cryptocurrency. What Happened: In an X post, Scaramucci described the banking behemoth's reported plans to offer loans backed by Bitcoin as a 'big deal.' He said the current Bitcoin market hasn't been fully tapped for traditional financial mechanisms such as loans. 'Imagine how much houses would be worth in a world with no mortgages. That's the reality we've been living in with Bitcoin, but that's about to change,' Scaramucci stated. Trending: Be part of the breakthrough that could replace plastic as we know it— Scaramucci also highlighted the potential for large holders to swap Bitcoin for exchange-traded fund shares without realizing capital gains tax, should the SEC approve in-kind creation and Andrew Feinberg questioned Scaramucci's argument, suggesting that this benefits wealthy early adopters and rich whales more than average investors who lack liquidity to invest in Bitcoin. Another X user, Mr. Yo, reminded everyone about the 2008 housing crisis, suggesting that leveraging Bitcoin could create a new It Matters: JP Morgan is reportedly preparing to offer loans backed by cryptocurrencies such as Bitcoin and Ethereum (CRYPTO: ETH), although official announcements have yet to be made. This initiative could begin as early as next year, but details remain under review and subject to change. Notably, CEO Jamie Dimon has been a vocal critic of Bitcoin, labeling the asset a 'fraud.' Despite this criticism, he has indicated support for client liberty in digital asset investing. Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Anthony Scaramucci | Photo courtesy: Al Teich / This article Anthony Scaramucci Says It'll Be A 'Big Deal' If Jamie Dimon-Led JPMorgan Allows Lending Against Bitcoin originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-07-2025
- Politics
- Yahoo
Donald Trump's Epstein Shutdown ‘Doesn't Smell Right': Scaramucci
A memo from the Justice Department and the FBI saying there is no evidence that convicted sex offender Jeffrey Epstein was murdered or had a 'client list' for blackmail 'doesn't smell right,' Anthony Scaramucci said on The Daily Beast Podcast. The former Trump White House Communications Director told host Joanna Coles that while he wasn't sold on the idea of a 'client list,' Epstein did keep compromising material on powerful friends. 'I'm not a big conspiracy theorist, but this doesn't smell right to me,' Scaramucci said, before delving into the circumstances of Epstein's death. 'The tape gets erased, the two guards walk away, and then all of a sudden he commits suicide, but he has to do it in a way where it's a lateral suicide,' Scaramucci said. 'He can't hang himself, has nothing to hang on, so he chokes himself at the end of his bed to commit suicide. OK, all right. I'll buy that. Let's say that that's legit and the guards disappeared and there's no tape of the incident.' But Epstein 'had lot of dirt on a lot of people,' according to Scaramucci. 'He was probably ready to talk.' Scaramucci agreed with the FBI and DOJ that there wasn't a 'client list' per se, but a better question would be whether there was a 'social list and a friend list that Jeff Epstein had where he also had kompromat on those people. 'Because we do know from the two criminal investigations of Jeff Epstein that he had a lot of tapes,' Scaramucci continued. 'He had a lot of tapes of people doing things on his island and other places where he lived that were nefarious.' 'So I think it's a parsing of words,' he explained. Scaramucci also knocked the Trump administration for the timing of the memo: the Sunday during a holiday weekend. 'Come on, guys,' he said. 'They're doing that for a reason, you know. Come on.' When asked if the memo was issued to 'protect' Donald Trump, Scaramucci said he didn't know. 'I don't want to be that guy,' he said. 'I'm not [FBI Director Dan] Bongino where I'm speaking into a microphone declaring that he has a client list and he's a total scumbag, and then I get an important role and then I declare he's not. I don't know the answer. I'm not privy enough to the information. So I'm not saying Trump is implicated or not.' Also on the podcast, Scaramucci—who previously detailed why Democrats should try to woo Elon Musk back to their party—explained what may come of his so-called America Party. Whereas figures like Secretary of State Marco Rubio and Vice President JD Vance won't be able to 'manifest the movement that Trump has created,' Musk should not be underestimated, according to Scaramucci. 'Where will Musk be in that fight? I don't know. But Musk is a very smart guy, and he's a very resourceful guy. And Musk is an engineer. These guys are not engineers,' Scaramucci said of the men in Trump's White House. 'They're politicians. And politicians don't think the way engineers think. And Musk will be 17 chess moves ahead of them.' New episodes of The Daily Beast Podcast are released every Tuesday, Thursday and Sunday. Follow our new feed on your favorite podcast platform at and subscribe on YouTube to watch full episodes.
The Sun
05-07-2025
- Politics
- The Sun
Donald Trump ‘moaned he could not access PORN in White House as computers there were blocked'
DONALD Trump grumbled about his lack of access to porn in the White House, his former communications director has said. The US President moaned he could not watch X-rated films as computers there blocked them. 2 Financier Anthony Scaramucci, who worked for Mr Trump in 2017 during his first stint in office, made the revelation while visiting the UK last month. Mr Trump — who reputedly had flings with porn star Stormy Daniels and a Playboy model — has also discussed death with Sir Keir Starmer, it is reported. During a White House lunch in February, the President quizzed the PM about younger brother Nick, who died of cancer aged 60. According to The Spectator mag, he asked: 'Your brother, Keir…he died…was it a good death?' Instead of replying in full, Starmer steered the conversation back to lowering car tariffs. Sir Keir's team said Trump was 'obsessed with death', it was claimed. The revelations came as Trump — a guest at Hugh Hefner's Playboy mansion during his 2016 presidential bid — signed his 'big beautiful Bill' into law. It enacts key parts of his agenda including tax cuts and an immigration purge. US President Donald Trump said Russia just wanted to -keep killing people- and hinted at sanctions after Moscow launched its largest ever drone and missile attack on Ukraine in the three-year-old war- 2
