FTX Ventures buys 30% stake in Scaramucci's SkyBridge Capital

Details: ... are scarce, as financial terms were not disclosed. However, the companies did say SkyBridge would use some of the money to purchase $40 million in cryptocurrencies to hold on its balance sheet.

The intrigue: The investment comes just a couple of months after SkyBridge suspended redemptions from its Legion Strategies fund-of-funds, which invested in bitcoin, ethereum and other digital assets during the last bull cycle.

• Notably, FTX is also among the fund's private investments.

State of play: For its part, FTX and its venture arm have been active both as investors and acquirers of crypto firms during the recent crypto downturn.

• Earlier this year, FTX expanded operations in Canada and Japan by acquiring crypto trading platforms Bitvo and Liquid Group.
• It also struck a deal to buy troubled crypto lender BlockFi potentially and made a proposal to bail out the customers of Voyager Digital.

Of note: SBF and the Mooch are no strangers to each other: The pair have collaborated on a series of SALT conferences around the world, and co-presented Crypto Bahamas earlier this spring.