Anthony Scaramucci’s SkyBridge Capital to tokenize $300 million on Avalanche
SkyBridge Capital, Anthony Scaramucci’s investment firm, has announced plans to tokenize $300 million, roughly 10% of its assets under management, on Avalanche (AVAX). The tokenization strategy involves two funds, one of which focuses on crypto investments like Bitcoin (BTC), which regulators have not classified as securities, while the other spans venture and other digital assets. To execute the plan, SkyBridge is partnering with Tokeny, a fintech firm specializing in tokenization infrastructure. Institutional tokenization trends Speaking at the Wyoming Blockchain Symposium on Tuesday, August 19, Scaramucci discussed the relationship between crypto and traditional finance (TradFi), focusing on the question of whether tokenization and blockchain technology can outperform existing systems. “I think the answer to those questions is yes, and I think throughout history, any time that the technology is better, we typically adopt it, even if there’s some ...