Anthony Scaramucci, the founder of SkyBridge Capital, is investing in a new crypto company founded by Brett Harrison, the former president of FTX US.

Scaramucci said in an email to Bloomberg that he would be using his personal funds to support Harrison’s new venture, which was announced just three weeks after the collapse of crypto exchange FTX.

The new crypto software company, which does not yet have a name, will allow crypto traders to create algorithmic-based strategies to access different markets, both centralized and decentralized.

Harrison is reportedly seeking a fundraising target of $10 million for a $100 million valuation.

In a tweet on January 14, Scaramucci said he was “proud” to be an investor in Harrison’s new company. Harrison replied to the tweet, thanking Scaramucci and saying that “Your support and advice means the world to me. I can’t wait to work together!”

The amount of capital invested by Scaramucci and the stake he received were not disclosed. Harrison first hinted at his new crypto venture on September 27, when he announced that he was stepping down as president of FTX US.

At the time, he said he was resigning his position as president but would remain with the exchange in an advisory role for the next few months.

Meanwhile, Scaramucci remains optimistic about the crypto market recovery this year, describing 2023’s market outlook as a “recovery year.”

In an interview with CNBC on January 15, the crypto investor said he expects Bitcoin to rebound to the $50,000-$100,000 range within the next two to three years.

“You are taking on risk but you’re also believing in [Bitcoin] adoption. So if we get the adoption right, and I believe we will, this could easily be a fifty to one hundred thousand dollar asset over the next two to three years,” he added.