While the cryptocurrency is swooning, Anthony Scaramucci is struggling to keep investors.

Has The Mooch lost its charm?

Anthony Scaramucci, who is known for his 11-day stint as director of communications for former President Donald Trump, is facing a massive exodus of investors from his funds.

Bloomberg reported earlier this week that M. Scaramucci’s firm SkyBridge Capital suspended the withdrawal of funds from one of his small funds, Legion Strategies, which holds just over $200 million. But Mr. Scaramucci is also struggling to keep investors in SkyBridge’s flagship fund, the SkyBridge Multi-Adviser Hedge Fund Portfolios, which managed as much as $2 billion as of the end of March. His investments lost almost a quarter of their value in the second quarter.

Investors in flagship fund SkyBridge are aiming to withdraw as much as $890 million. or about half the money he had at the end of last month, mr. Scaramucci told the DealBook newsletter. But many of these investors will be stuck in the fund for a while.

According to its rules, Multi-Adviser fund investors are only allowed to withdraw money during certain windows. They used to happen four times a year, but SkyBridge has reduced them to two times a year in 2020 after heavy losses at the beginning of the pandemic. General repayments are usually limited during each window.

Earlier this month, SkyBridge told its customers in a letter that its buyout window had been “overdrawn” and that they would only receive about 16 percent of the money requested in aggregate. The letter stated that the company was issuing investor receipts for this amount, which would be paid no later than October.

mr. Scaramucci’s losses came just over a year after SkyBridge switched to crypto. SkyBridge’s flagship fund, which Mr. Scaramucci bought from Citigroup, which has long specialized in buying and selling stakes in other hedge funds. For a time, this, along with strong performance since the 2008 financial crisis, made him one of the most influential players in the hedge fund industry.

In addition to the foundation, SkyBridge hosted a widely attended annual conference in Las Vegas called SALT, which brought together notables from both Wall Street and politics.

mr. Scaramucci says he remains a longtime supporter of crypto, adding that about 22% of his flagship fund remained in crypto and related investments as of the end of last month.

“I’m not smart enough to time the market,” he told the DealBook newsletter. “But we have done a huge amount of research and we think that anyone who has done this will see that blockchain technology is good and the future is in it.”