Skybridge Capital has suspended withdrawals from its Legion Strategies fund – one of the firm’s funds with crypto exposure. Founder Anthony Scaramucci confirmed the move July 19 in an interview on CNBC, after Bloomberg reported it a day earlier citing anonymous sources.
Scaramucci told CNBC:
“Our board made a decision to temporarily suspend until we can raise capital inside the fund and then make sure when people get out they get out orderly,” says @scaramucci. “About 18% of the fund is in what we would call #crypto exposure.” pic.twitter.com/j5AxY871n7
— Squawk Box (@SquawkCNBC) July 19, 2022
“Everybody signed an investor agreement, this type of flexibility, so I don’t think there are any surprises here given what’s going on in the overall market.”
Skybridge is among the financial services companies that have applied to list a Bitcoin exchange-traded fundand been rejected by the United Sates Securities and Exchange Commission (SEC).