The Mooch’s Remembrance of S.B.F.’s Past

“I’m looking at an overmedicated young man“ said The Mooch. “It’s almost Shakespearean.”
“I’m looking at an overmedicated young man“ said The Mooch. “It’s almost Shakespearean.” Photo: Eóin Noonan/Getty Images
William D. Cohan
October 18, 2023

He may not be at the federal courthouse in downtown Manhattan, but Anthony Scaramucci, a.k.a. The Mooch, has had a front-row seat on the narrative arc of what has become the tragic spectacle of Sam Bankman-Fried. Early on, The Mooch’s hedge fund-of-funds, SkyBridge Capital, made a small investment in FTX, S.B.F.’s crypto exchange. It was, for a time, a mutually beneficial relationship. In September 2022—two months before the S.B.F. denouement—FTX Ventures, the company’s investment arm, agreed to buy a 30 percent stake in SkyBridge for $45 million, valuing SkyBridge at $150 million, and giving S.B.F. an option to buy up to 85 percent of SkyBridge after three years at a higher price. 

That fall, as I have previously documented, The Mooch opened his Rolodex to S.B.F., hosting him at various meetings with Middle East potentates, including M.B.S., in Saudi Arabia, and M.B.Z., in the United Arab Emirates. S.B.F. was on the hunt for additional equity for his failing empire and The Mooch, unaware of the holes in the FTX balance sheet, was more than happy to introduce him to his rich friends. As I have also previously reported, The Mooch was in the Bahamas, in early November 2022, at the invitation of  Joe Bankman, as his son’s world was crumbling around him in real time. When The Mooch realized how bad things had become, he returned to his home in New York City, and watched as the S.B.F. fiction was revealed.