Boomer Bankers pay homage to billionaires from a blockchain on the beach of the Bahamas – Information

“I want to draw something for you, fine, just because you’ll remember it.

“This is La Guardia Airport. It was built in the 1920s, “said Anthony Scaramucci, drawing rectangles on a backing of paper in front of me. I sat with the founder of SkyBridge Capital and former director of communications at Trump’s White House at the Grand Hyatt in the Bahamas, where he co-hosted the crypto-themed offshoot of annual SALT conference in partnership with the FTX cryptocurrency exchange.

I was trying to understand why Scaramucci was so cryptic when a Long Island native, as he often does, began to explain his charm with a flavored analogy with Queens. “Now you have this old airport… You will improve it here. You improve it there. And this is an airport that ultimately looks awful until you get to 2020.

LaGuardia, in this metaphor, is the existing financial system – an affair that has lost all appeal. “Then you have Dubai. They built the airport in 2005 and it is brand new and is spectacular“Dubai’s rectangle, representing the new financial system that Scaramucci believes will be built with a blockchain, was much larger and nicer, as he drew it.

“So these are Goldman Sachses, JP Morgans and Morgan Stanleys,” he said, pointing to those boring rectangles of LaGuardia. “It’s all sedimentary activity.” He painted X in LaGuardia. “But now comes Coinbase, FTX and Binance,” he said, redirecting his pen to Dubai. “They have none of their predecessor’s luggage.”

And that, in Pictionary’s most basic words, is what led Scaramucci and his Wall Street relatives in the Bahamas: to open the door to a glaring new financial system that carries nothing of the old’s baggage.