Updated on:12/06/2025 05:22 PM 
Anthony Scaramucci, founder of SkyBridge Capital, recently shared his sobering experience with Sam Bankman-Fried during a CNBC interview on October 13th, offering valuable cryptocurrency investment fraud warning signs to industry participants.
Scaramucci's journey with Bankman-Fried began with admiration for what he perceived as groundbreaking vision in the blockchain industry. Initially impressed by Bankman-Fried's eccentric personality and apparent intelligence, Scaramucci quickly developed confidence in the FTX founder's projected altruism and mission.
"I saw somebody that had a vision for a next-generation exchange," Scaramucci recalled, comparing Bankman-Fried to the "Mark Zuckerberg of crypto" for his ambitious plans to expand cryptocurrency trading into broader financial markets.
The SkyBridge Capital founder became increasingly convinced of Bankman-Fried's legitimacy, noting how the FTX executive appeared "less affected by material wealth" and seemed genuinely committed to "doing something transformative" in the digital asset space. This perception led Scaramucci to sell a portion of his business to Bankman-Fried and facilitate high-level introductions with influential figures in the Middle East.
"The more time I spent with Sam, the smarter I felt he was," Scaramucci admitted, highlighting how easily even seasoned professionals can be misled in the rapidly evolving cryptocurrency ecosystem.
The turning point came during a trip to the Bahamas shortly before FTX's dramatic collapse, where Scaramucci began noticing disturbing behavioral patterns in Bankman-Fried that he described as "dissociative" – potential red flags that cryptocurrency investors should recognize.
Just days later on November 11, 2022, Scaramucci announced on CNBC that SkyBridge Capital would attempt to repurchase its equity stake from FTX, a process now complicated by the company's bankruptcy proceedings. In the same interview, he publicly acknowledged his misjudgment while apologizing to investors, emphasizing that he was far from alone in being deceived.
As Sam Bankman-Fried stands trial for fraud in the Southern District of New York, his case serves as a critical lesson for the blockchain industry about the importance of due diligence when evaluating cryptocurrency exchanges and investment opportunities.
