SkyBridge Capital's Anthony Scaramucci is stepping up his firm's move into the cryptocurrency world.
The firm is teaming up with trading platform NAX to raise $250 million for a fund that will be known as UNLOX and will target spreading blockchain availability to institutions.
The hedge fund is joining with trading platform NAX in a series of fundraising efforts, the first of which will seek to bring in up to $250 million. The blockchain operation of Algorand will be the crypto base for the partnership, while NAX will provide commercial support and SkyBridge will be the institutional base for the fund. Algorand uses what it describes as a "carbon-negative" operation, in contrast to much of the crypto industry that is energy-intensive due to the sophisticated computer networks needed.
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