SkyBridge's founder Anthony Scaramucci said the investment firm is working on buying back its equity from Sam Bankman-Fried’s FTX.

In September, FTX's investment arm, FTX Ventures, agreed to buy 30% of SkyBridge for an undisclosed amount. SkyBridge’s plan was to use some of the funds to buy $40 million in cryptocurrencies to hold on its balance sheet as a long-term investment. In a CNBC interview Friday, Scaramucci added that SkyBridge had no assets in custody on FTX to avoid any potential conflicts of interest.