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Scaramucci’s Crypto Pivot Comes With an Eye on Tripling Assets

The onetime adviser to Donald Trump traces his fascination with digital currencies to his stint in Washington five years ago.

Anthony Scaramucci speaks during the SALT conference in Las Vegas on May 8, 2019.

Anthony Scaramucci speaks during the SALT conference in Las Vegas on May 8, 2019.

Photographer: Joe Buglewicz/Bloomberg

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Anthony Scaramucci, whose curiosity about cryptocurrencies began during his short stint in Washington, now plans to pivot his SkyBridge Capital toward digital assets after years of focusing on high-profile hedge funds.

Almost half of SkyBridge’s $3.5 billion under management is linked to crypto assets including Bitcoin, the Algorand protocol, Ethereum and publicly traded, crypto-related stocks, according to Scaramucci, who returned to money management at his New York-based firm after 11 days as then-President Donald Trump’s director of communications in 2017.

SkyBridge expects that the crypto focus could help triple assets to $10 billion, with digital assets representing the majority of those funds. “We feel so strongly about this opportunity that we’ve adapted and repositioned the firm to eventually be a leading cryptocurrency asset manager and adviser,” Scaramucci said in an interview.