SkyBridge Suspends Withdrawals from One of its Crypto Funds

SkyBridge Capital has recently announced it has frozen withdrawals from one of its cryptocurrency funds.

Anthony Scaramucci has said during an interview with the CNBC the decision has been made by the majority of SkyBridge board members. However, there is no reason to panic because according to him the company is not experiencing capital problems.

The withdrawal of funds will be resumed after SkyBridge attracts additional resources that will streamline the process of entering and exiting investors from the Legion Strategies crypto fund.

The reserves used to secure it are Bitcoins and shares of crypto exchange FTX.

Scaramucci has said that although Legion Strategies has fallen 30% since the start of the year, it rose 5% this month.