Sam Bankman-Fried’s FTX Ventures and Anthony Scaramucci’s SkyBridge deal marries the companies’ love for crypto with the safety of more stable investments. Hi. I''m Aaron Weinman . One of the more interesting developments last Friday happened in the crypto space. Sam Bankman-Fried — founder of crypto exchange FTX and known by his initials SBF — acquired a 30% stake in SkyBridge Capital , an alternative investment firm. The deal was inked through SBF''s venture-capital firm FTX Ventures and will support growth initiatives for SkyBridge. SkyBridge, the hedge fund run by Anthony Scaramucci, will use the money from FTX to buy $40 million in cryptocurrencies, which it will hold on its balance sheet. The hedge fund''s decision to bet big on crypto comes during a tough patch for SkyBridge because its holdings of digital assets have plummeted and investors have sought redemptions from the fund. FTX, meanwhile, has been somewhat of a savior to the crypto space. The exchange has acquired crypto peers under financial duress, including the Bitvo Exchange in June , and expanded into products like stocks and options. For more on the deal, check out this article from the New York Times .