As FTX Ventures continues its acquisition activities, its latest move was SkyBridge Capital. While SkyBridge is a venture capital firm that has recently made private investments in crypto asset companies, it has shown deepening trends in the sector with crypto asset purchases from time to time. According to Bloomberg news, the new capital obtained by the company is intended to be used in the purchase of $ 40 million worth of cryptocurrencies to contribute to the growth of SkyBridge.

FTX CEO Sam Bankman-Fried said in a statement that he and Anthony and his team agreed that the two companies' relations should become closer after their collaborative work in partnership with the SALT conference.

As SkyBridge reported on its website, as of June, approximately $800 million of $2.5 billion in assets under management is in crypto assets. In addition, the company announced in July that it had suspended withdrawals from the Legion Strategies fund, which offers indirect investment opportunities to companies including FTX.

FTX token

The two companies have not yet made a statement about the financial terms of the deal. The companies that got closer after the conference they held jointly in April have now taken their commercial relations to a new dimension. Scaramucci also lauded Bankman-Fried as the name that saved crypto companies and the market this summer.

In his last statement, Anthony Scaramucci stated that the company they founded in 2005 continues to develop and they will continue to diversify their asset management by continuing their investments in Blockchain.

Terra Classic burn mechanism wins Binance, Huobi and BTCEX support

Crypto exchanges Binance, Huobi, and BTCEX have joined exchanges announcing that they will support the Terra Classic burn. Terra Classic plans to implement its own burn mechanism that will impact the Luna circulating supply powered by Binance. Like the SHIB burn and the Ethereum burn mechanism, the LUNC burn aims to make the token deflationary.