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Skybridge CEO Anthony Scaramucci to Advance Institutional Crypto Adoption with $250 Million Fund: Details

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Mon, 09/13/2021 - 15:51
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Vladislav Sopov
New foundation, dubbed UNLOX, will be launched in collaboration with trading platform NAX
Skybridge CEO Anthony Scaramucci to Advance Institutional Crypto Adoption with $250 Million Fund: Details
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A legendary hedge fund manager shares that Anthony Scaramucci is launching the UNLOX initiative to expand cryptocurrencies adoption by businesses.

SkyBridge Capital's Anthony Scaramucci partners with NAX platform, launches $250 million fund

According to a CNBC article, Mr. Scaramucci has entered into a partnership with trading platform NAX.

Within this partnership, he will launch and curate the UNLOX fund. Partners will raise funds in a number of rounds: the first one is set to secure $250 million.

The new fund will be largely focused on businesses' interest in asset tokenization in the spheres of property, corporate securities and VC initiatives.

Also, UNLOX will support early-stage projects in the sphere of digital collectibles (non-fungible tokens, NFTs).

Algorand (ALGO) is chosen as the technical basis for the collaboration

The partners will leverage Algorand (ALGO) as a platform for their activity. Mr. Scaramucci stresses the technical supremacy of this blockchain as smart contracts hosting:

Algorand is going to be the winner in building the backbone for what institutions need and financial services companies need.

Scaramucci's Skybridge was among the first hedge funds to buy Bitcoin.

Related
Anthony Scaramucci Believes Cardano and Ethereum Will Keep Rising, Here's Why

Also, he is highly enthusiastic about Ethereum (ETH) and Cardano (ADA), as U.Today reported previously.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)