Scaramucci investing in company set up by former FTX US president

Quick Take

Anthony Scaramucci invests in a company set up by Brett Harrison.

Anthony Scaramucci is investing in a company set up by former FTX US president Brett Harrison.

The new company provides order management and algo-development services for the decentralized finance market, according to an investor briefed on Harrison’s plans.

Bloomberg reported that the American financier and former White House director of communications will support the venture with his own money. Scaramucci also tweeted about the investment in reply to a lengthy tweet thread from Harrison that lambasted disgraced FTX co-founder and CEO Sam Bankman-Fried, writing: "Brett I am proud to be an investor in your new company. Go forward. Don’t look back. Wishing you the best."

“Anthony has been a true mentor and friend to me since I joined the crypto industry two years ago,” Harrison told Bloomberg News, adding: “I’m honored to have him as an investment partner, and know his guidance will be invaluable as I begin this new chapter.” He also tweeted: "Thank you so much, Anthony. Your support and advice means the world to me. I can’t wait to work together!"

Scaramucci only recently changed his tune on the FTX debacle, telling CNBC that "it's very clear now that there was fraud" — something he was hesitant to proclaim previously "because that's actually a legal term." He said his mind was changed when FTX co-founder Gary Wang and former Alameda Research co-CEO Caroline Ellison pleaded guilty last month.

Updated to provide additional information.

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.