Trump's Former Communication Director Casts Doubt on FTX's Revival: 'Don't See How It's Possible'

Anthony Scaramucci, founder and managing partner of Skybridge Capital, shared his skepticism about the potential revival of FTX.

What Happened: During an interview on The Block’s The Scoop podcast with Frank Chaparro, Scaramucci, who once served as the White House communications director for former President Donald Trump, expressed his thoughts on the possible reboot of FTX. 

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The exchange, which was once valued at $32 billion, filed for bankruptcy protection last year after the FTT token suffered a run. 

"I don’t see how it’s possible to restart FTX," Scaramucci said.

Scaramucci cited the lack of profitability among exchanges, which has led to the burning of capital that was previously raised through private placements, as a factor that makes it difficult to even consider a restart of FTX.

The Skybridge Capital boss also expressed his opinion about the recent appearance of Gary Gensler, the Chair of the Securities and Exchange Commission, in a hearing of the House Financial Services Committee where Republicans questioned him about crypto. 

He called Gensler a regulator who acts in "bad faith" and believes that he will slow down the "adoption of crypto in the US," causing the country to miss out on opportunities to other countries. He also criticized the idea of excluding crypto from the U.S. just because of the embarrassment caused by Sam Bankman-Fried.

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