WEBVTT - Anthony Scaramucci Talks Kamala Harris, Crypto Policy

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>And joining us now as someone who briefly worked for

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<v Speaker 2>Trump but is now supporting Harris. Anthony Scaramucci of Skybridge Capital,

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<v Speaker 2>who served as White House Communications director during the Trump administration,

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<v Speaker 2>is with us alongside Bloomberg's Shanali Bossix. So, mister Scaramucie,

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<v Speaker 2>thank you so much for being with us. You, of

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<v Speaker 2>course are behind Harris. You don't have kind words often

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<v Speaker 2>for Donald Trump.

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<v Speaker 3>We know that.

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<v Speaker 2>My question is how many people like you do you

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<v Speaker 2>think are out there people who were used to be

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<v Speaker 2>supportive of Republicans who were looking for another choice. Do

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<v Speaker 2>you expect we could see a wave of donors like

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<v Speaker 2>yourself moving toward Kamala Harris?

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<v Speaker 3>Well, I certainly think you've seen that. Since the announcement

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<v Speaker 3>in the switch away from President Biden, one hundreds of

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<v Speaker 3>millions of dollars have been raised. And these are entrepreneurs, corporations,

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<v Speaker 3>Silicon Valley billionaires, Wall streeters. There's a whole collection of

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<v Speaker 3>people that understand the danger of Donald Trump. Obviously, Vice

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<v Speaker 3>President Harris was talking about Project two zero two to five.

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<v Speaker 3>I would suggest everybody to read it. Mister Trump is

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<v Speaker 3>trying to distance himself from it, but all of his

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<v Speaker 3>acolytes are there writing it right there. Inside Project through

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<v Speaker 3>twenty five is the deportation of fifteen million immigrants. He

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<v Speaker 3>says that from the stump, so he's obviously not distancing

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<v Speaker 3>himself from that, and it represents something that I think

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<v Speaker 3>is very un American and very dangerous. And just my

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<v Speaker 3>last point, what Trump wants to do to NATO and

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<v Speaker 3>how he wants to help dictators and betray our allies

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<v Speaker 3>is enough not to support him and do everything that

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<v Speaker 3>we can to help Vice President Harris win the presidency.

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<v Speaker 4>I'm really curious about what your friends in the Republican

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<v Speaker 4>Party are also saying about Project twenty twenty five and

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<v Speaker 4>how divisive it is. What does this mean for the

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<v Speaker 4>Trump ticket moving forward, particularly with JD. Vance as his

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<v Speaker 4>running mate.

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<v Speaker 3>Well, listen, I think the President's having a hard time

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<v Speaker 3>with JD. Vance. I don't think he liked the nomination speech.

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<v Speaker 3>I don't think he likes the showing of JD. Vans. Obviously,

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<v Speaker 3>President Trump is a little bit of a stage actor

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<v Speaker 3>and a casting director, and JD. Vance is not well casted.

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<v Speaker 3>He's frankly, very dull. Maybe the JD. Stands were just

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<v Speaker 3>dull Vance, I'm not sure, and so I expect a

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<v Speaker 3>very big strain between the two of them. Moreover, mister

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<v Speaker 3>Trump's selection of JD. Vance is not really expanding his electability.

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<v Speaker 3>I think that was a cocky selection born from short

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<v Speaker 3>term rising poll numbers. So he's doubled down, downing on

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<v Speaker 3>the nonsense. And I would just ask you to look

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<v Speaker 3>at some of the political philosophy of Vance and the

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<v Speaker 3>ideas behind a post constitutional America that he and his

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<v Speaker 3>friends often mentioned. And so this is super, super dangerous

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<v Speaker 3>for the United States.

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<v Speaker 4>That doesn't mean for the vice presidential pick that Harris

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<v Speaker 4>could choose moving forward, because you and I talked to

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<v Speaker 4>some of the same people, and in the Republican Party,

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<v Speaker 4>in even among the deans, you have had people who

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<v Speaker 4>are thinking about either voting or donating more towards the

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<v Speaker 4>Democratic ticket. Now, so who does Kamala Harris need to

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<v Speaker 4>choose to gain broader support?

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<v Speaker 3>So I think she's going to choose Senator Kelly from Arizona.

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<v Speaker 3>I think Mark is a great guy. He's got a

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<v Speaker 3>lot of different things that can help Senator Harris. I

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<v Speaker 3>believe not only does he help her in places like

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<v Speaker 3>Arizona in Nevada, where he's from, but he also helps

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<v Speaker 3>her in Virginia because of his status as a veteran,

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<v Speaker 3>and he is somebody who is colorful and charismatic. He

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<v Speaker 3>can help her raise money. He's an American patriot, and

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<v Speaker 3>also because of the tragedy that happened to his wife

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<v Speaker 3>related to gun violence. I think there's a very interesting

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<v Speaker 3>narrative there that they can tell together. So I'm hoping

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<v Speaker 3>that he picks her. If he doesn't pick I'm sorry,

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<v Speaker 3>I'm hoping he picks him. If she doesn't pick him,

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<v Speaker 3>there's other very capable people, but I like him the best.

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<v Speaker 2>Well as we can cons what you like. We obviously

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<v Speaker 2>know of your affection for a crypto Anthony, and there

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<v Speaker 2>is a question of what kind of crypto policy a

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<v Speaker 2>potential Harris administration would pursue. Earlier this week, I spoke

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<v Speaker 2>with Democratic Congressman Wiley Nickel of North Carolina, a big

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<v Speaker 2>crypto advocate in the House, and asked him about this.

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<v Speaker 2>This is what he told me.

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<v Speaker 1>I'm really hopeful that we're going to see a little

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<v Speaker 1>bit of a reset from Vice President Harris. I'm working

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<v Speaker 1>behind the scenes to encourage them to embrace digital innovation

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<v Speaker 1>to keep those jobs here in the United States. So

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<v Speaker 1>I'm hopeful that we'll see, you know, some good comments

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<v Speaker 1>come out of this new campaiging. We're seeing Donald Trump

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<v Speaker 1>going to Tennessee on Saturday to give a major speech

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<v Speaker 1>on crypto. We can't let this be apart a part

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<v Speaker 1>is an issue. It's got to stay in that bipartisan category.

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<v Speaker 2>So, Anthony, my question to you is, given everything we're

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<v Speaker 2>hearing from Donald Trump about wanting to be pro crypto,

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<v Speaker 2>if he does get a second turn in the Oval office,

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<v Speaker 2>why should someone believe that Kamala Harris would be a

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<v Speaker 2>better president for a crypto than him.

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<v Speaker 3>Well, I would say three three number one. She is

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<v Speaker 3>from the Silicon Valley neighborhood. Her being from California, she

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<v Speaker 3>understands the need for innovation. Younger Democrats support crypto. Older

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<v Speaker 3>Democrats like Elizabeth Warren do not support it. She represents

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<v Speaker 3>a new age of Democrats. You guys reported on this,

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<v Speaker 3>so I'll talk about it. I was at an event

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<v Speaker 3>two weeks ago with Mark Cuban, Mark Mike Novograts, with

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<v Speaker 3>Anita Dunn and others. It was sponsored by Roe Kanna

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<v Speaker 3>and it was an effort to explain to people in

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<v Speaker 3>the Democratic Party how important it is to embrace propitious

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<v Speaker 3>and fair crypto regulation. And I think they're going to

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<v Speaker 3>make steps to do that. You know that she was

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<v Speaker 3>thinking about going to the Bitcoin conference. I don't think

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<v Speaker 3>that that materialized, but I think there are steps being

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<v Speaker 3>made in the right direction. And I do agree with

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<v Speaker 3>the Representative that we absolutely have to make crypto regulatory

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<v Speaker 3>policy by persison, and I think we're going to get there.

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<v Speaker 4>How much does she need to really core the crypto

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<v Speaker 4>community in this election cycle. We've seen a lot of

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<v Speaker 4>crypto money in politics this cycle around in in prior cycles, frankly,

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<v Speaker 4>and also a lot of concern around what a regulatory

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<v Speaker 4>environment would look like under another Democratic administration. Would she

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<v Speaker 4>need a new SEC chief that's not Gary Ginstler to

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<v Speaker 4>gain that support.

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<v Speaker 3>Yeah, I think she's going to take steps. I mean,

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<v Speaker 3>she's had a very busy calendar over the last five

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<v Speaker 3>or six days. I think we have to give her

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<v Speaker 3>some time to gel her policies. I think this will

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<v Speaker 3>be a dramatic new generation reset for the Democrats. Democrats

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<v Speaker 3>always do better soniality when they are bolder and doing

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<v Speaker 3>things that are risk taking. It's Barack Obama against a

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<v Speaker 3>war veteran like John McCain, where it's Bill Clinton against

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<v Speaker 3>a World War two veteran like George Herbert Walker Bush.

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<v Speaker 3>This represents a very stark contrast. She's now going up

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<v Speaker 3>against the oldest presidential candidate in US history. She's a

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<v Speaker 3>bright person, she's very capable. She's put a great team together,

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<v Speaker 3>and I think she's a very small, practical person. So

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<v Speaker 3>let's give her some time to lay out her policies.

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<v Speaker 3>She may miss some cryptocurrency donations, but I think she's

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<v Speaker 3>going to get the broader regulatory picture right for the

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<v Speaker 3>cryptocurrency industry, and I like where we're going, Anthony.

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<v Speaker 4>Before I let you go, of course, we have to

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<v Speaker 4>ask you about Skybridge as well. Bitcoin was a huge

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<v Speaker 4>boon for you. You guys have made a lot of

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<v Speaker 4>money in the crypto industry, but there still have been

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<v Speaker 4>a number of investors who have asked for their money back.

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<v Speaker 4>What is your plan for this fun Do you plan

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<v Speaker 4>to keep it operating or do you plan to return

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<v Speaker 4>money to investors at a greater scale.

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<v Speaker 3>So you know, and I appreciate your journalist Kathy Burton

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<v Speaker 3>writing about me every six or so month. She makes

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<v Speaker 3>me very relevant and every time she writes about me,

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<v Speaker 3>we go up ten or twenty percent. So I hope

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<v Speaker 3>she continues to write about me. But it's very plain

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<v Speaker 3>and simple. People signed a perspective with Skybridge. We do

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<v Speaker 3>let people out on a bi annual basis. Right now,

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<v Speaker 3>that tender is at five percent. That's where it's scheduled.

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<v Speaker 3>We work with our independent board to do that. Some

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<v Speaker 3>people are saying that we need to increase the tender,

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<v Speaker 3>but you have to remember something. The Wirehouses decided to

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<v Speaker 3>sell Skybridge at the bottom or up one hundred and

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<v Speaker 3>fifty or so percent. Since they did that, and it

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<v Speaker 3>was very very important for us as fiduciary is to

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<v Speaker 3>maintain the integrity of that portfolio. We have a lot

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<v Speaker 3>of privates in that portfolio as an example, and we

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<v Speaker 3>couldn't just have people rushing to the door with the

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<v Speaker 3>liquid stuff and leaving the investors like myself and others

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<v Speaker 3>with the private equity. It just wasn't fair. And if

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<v Speaker 3>you look at the circumference of the perspectus, as I've

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<v Speaker 3>told Kathy Birth and others, Burden and others, we operate

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<v Speaker 3>inside the circumference of that people are getting out of

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<v Speaker 3>Skybridge every six months. Every time they do it, unfortunately

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<v Speaker 3>making a mistake because we've had the best twenty four

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<v Speaker 3>months of performance in the nineteen year history of Skybridge,

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<v Speaker 3>but we are letting people out. I think it's a

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<v Speaker 3>miss snomer. And you know what I would appreciate from

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<v Speaker 3>a miss Burton if he doesn't mind pick up the

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<v Speaker 3>phone and call me, I'd be very happy to explain

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<v Speaker 3>it to her as carefully as I'm explaining it to you.

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<v Speaker 3>I do appreciate you giving me the opportunity to talk

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<v Speaker 3>about it, but people signed up for that. Imagine you're

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<v Speaker 3>in a private equity fund and you have a ten

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<v Speaker 3>year hold on a private equity fund and someone says, well,

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<v Speaker 3>I got to get out right now two years into

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<v Speaker 3>the position. Well, I'm sorry, that was the deal. And

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<v Speaker 3>remember your co entangled with other investors and so you

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<v Speaker 3>have to respect each other in that process.

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<v Speaker 2>All right, We appreciate your time. Anthony Scaramucci, Skybridge Capital

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<v Speaker 2>founder and former Trump White House Communications director, joining me

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<v Speaker 2>with Lumberg shan Ali Bosic this evening. Thank you so much,