The Legion Strategies fund is an offshore fund based in the Cayman Islands and is one of Skybridge’s smaller offerings, of which about 20% are private companies, with about $230 million in assets invested in hedge fund managers. The Skybridge website lists a dozen private stock investments, but it’s unclear whether all of these are included in the Legion Strategies fund. “ Our board made a decision to temporarily suspend until we can raise capital inside the fund and then make sure when people get out they get out orderly”, he said. Justifying the move, Scaramucci stated that the decision was owing to a precipitous fall in the prices of the stocks and cryptocurrencies owned by Legion Strategies. On July 19, Anthony Scaramucci SkyBridge Capital announced that it has temporarily suspended withdrawals from its Legion Strategies fund that had exposure to cryptocurrency assets such as Bitcoin (BTC) and Ethereum (ETH). Leading investment management company SkyBridge Capital’s Legion Strategies Fund is the latest in a growing list of crypto firms to freeze withdrawals owing to market conditions. The crash affected crypto lending platforms, hedge funds, institutional traders, and investment management firms alike. The TerraUST/Luna implosion in May has destructed the crypto market like never before. Scaramucci states the fund is unleveraged, so there’s no fear of liquidation.About 18% of the fund had crypto exposure.SkyBridge Capital announced that it has temporarily suspended withdrawals from its Legion Strategies fund that had exposure to cryptocurrency assets.

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