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Scaramucci Says Most Institutional Investors Remain Hesitant to Invest in Crypto: Report
The hedge fund manager also predicted that a large bank will seek to buy Coinbase or a similar crypto start-up.
Updated May 11, 2023, 4:14 p.m. Published Sep 27, 2021, 12:41 p.m.
Anthony Scaramucci, a former White House communications director and the hedge fund manager of SkyBridge Capital, said the majority of institutional investors are still reluctant to invest in crypto and blockchain technology.
- The founder of SkyBridge Capital told Bloomberg that crypto is dominated by around 10% of the financial-service community.
- “The institutions are not there … anybody who’s telling you there’s institutional adoption into this space is not being totally honest or they’re seeing something that I’m not seeing,” Scaramucci said.
- Scaramucci’s comments come as many mainstream banks and financial institutions have begun applying for and offering more crypto investments to their clients.
- The hedge fund manager also predicted that one of the big banks would eventually buy a Coinbase or a similar crypto start-up as decentralized finance continues to grow rapidly.
- In March, Scaramucci told CoinDesk TV more companies should be holding bitcoin on their balance sheet because the U.S. monetary supply was expanding so rapidly.
- Earlier this month, First Trust applied to the U.S. Securities and Exchange Commission to offer a crypto exchange-traded fund that would be managed by SkyBridge Capital.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
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