• Skybridge Capital submits an application for a cryptocurrency exchange-traded fund (ETF) and raises $100 million for the ALGO Fund

  • Anthony Scaramucci revealed the total crypto worth of SkyBridge Capital, an alternative investment firm based in Australia. SkyBridge currently holds crypto worth $700 million, according to him.

    The cryptocurrency company ETF, or crypto-based exchange-traded fund, has been filed by the alternative investment firm.

    This was done on Tuesday in order to expand their digital currency offerings. During the SALT conference in New York this week, SkyBridge Capital also revealed its plans for the Algorand fund.

    The Value of SkyBridge Crypto Assets

    In an interview with CNBC, SkyBridge founder Anthony Scaramucci stated that the firm had raised more than $100 million for the new Algorand fund. Anthony was also the former White House Communications Director. Scaramucci was the one who estimated the company’s crypto assets to be worth $700 million.

    Crypto, according to the CEO, is here to stay. He did add, however, that if regulations want to encourage the adoption of digital asset technology, they should act quickly.

    Anthony compared cryptocurrency adoption to Uber, which was set to be phased out of the system by regulators. However, the people eventually triumphed because they accepted its use. He believes that in the not-too-distant future, the United States will have up to 200 million crypto users.

    When spectators expressed concern about a regulatory crackdown overseen by the SEC, the SkyBridge CEO made these remarks.

    The crypto sector, according to Gary Gensler, the head of the Securities and Exchange Commission, is rife with abuse and fraud. Despite their differences, Anthony Scaramucci admired Gary for his crypto investment.

    He explained that Gary has many people in Congress who do not fully understand cryptography. As a result, there is a lot of negativity among them, and he plans to invite elites like Elizabeth Warren to such a gathering.

    The SkyBridge CEO made these remarks in response to spectators’ concerns about a regulatory crackdown overseen by the SEC.

    According to Gary Gensler, the head of the Securities and Exchange Commission, the crypto sector is rife with fraud and abuse. Anthony Scaramucci admired Gary for his crypto investment, despite their differences.

    Gary has a lot of people in Congress who don’t understand cryptography, he explained. As a result, there is a lot of negativity among them, and he intends to host a gathering with elites like Elizabeth Warren.

    However, in an interview with ULTCOIN365, he stated that even if cryptocurrency adoption grows, lawmakers will ban it. He believed lawmakers would be successful in putting it down because they have their own methods for doing so.

    Every monetary asset that provides a cash alternative, including Bitcoin, is worth considering, according to Dalio.

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