Anthony Scaramucci says bear markets ‘suck,’ and Skybridge only took Sam-Bankman Fried’s deal because of its ‘mediocre’ performance

Anthony Scaramucci runs the investment company SkyBridge Capital.
SkyBridge’s Anthony Scaramucci said bear markets “suck” as his hedge fund suffers amid a crypto winter. 
He claimed that his fund’s ‘mediocre’ performance triggered his deal with Sam Bankman-Fried’s FTX. 
SkyBridge is among firms Bankman-Fried has aided as the crypto market crumbles.

Hedge fund manager Anthony Scaramucci lamented bear markets, saying they “suck” because of how much they’ve hurt his business. 

Scaramucci told the Financial Times Monday that his company, SkyBridge Capital has suffered significantly during the crypto winter, pushing him to ink a deal with billionaire Sam Bankman-Fried, who acquired a 30% stake in the fund through his venture-capital firm FTX Ventures. 

“Bear markets suck,” Scaramucci said. “If I was doing super-well right now — our performance is mediocre, lackluster — who knows if we would be doing the transaction.”

He added the deal was born of poor performance in a poor market,…

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This article was written by [email protected] (Zahra Tayeb) and originally published on www.businessinsider.com