Ikigai Asset Management Suffers Heavy Loss By FTX

1 mins mins

Ikigai Asset Management was unable to Ikigai a significant portion of the vast majority of its assets that were stored on FTX. Given that FTX just sought Chapter 11 bankruptcy protection, this is a significant loss for Ikigai.

Ikigai Asset Management Suffers Heavy Loss By FTX 2

Chief Investment Officer Travis Kling shared the state of the company on Twitter:

Unfortunately, I have some pretty bad news to share. Last week Ikigai was caught up in the FTX collapse. We had a large majority of the hedge fund’s total assets on FTX. By the time we went to withdraw Monday mrng, we got very little out. We’re now stuck alongside everyone else.
— Travis Kling (@Travis_Kling) November 14, 2022

According to Kling, the company will keep trading its remaining assets and decide what to do with its venture fund, which was unaffected by the FTX demise.

There’s a lot of uncertainty about what’s going to happen next. In the very near-term, Ikigai is going to continue trading the assets we have left that are not stuck on FTX. We’re also going to make a decision about what to do with our venture fund, which was unaffected by FTX.
— Travis Kling (@Travis_Kling) November 14, 2022

Finally, the CIO apologized for siding with FTX in the past.

It was entirely my fault and not anyone else’s. I lost my investors’ money after they put faith in me to manage risk and I am truly sorry for that. I have publicly endorsed FTX many times and I am truly sorry for that. I was wrong.
— Travis Kling (@Travis_Kling) November 14, 2022

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News