Ikigai Asset Management Sells $65 Million Claim in FTX Bankruptcy Case
Ikigai Asset Management, a crypto investment firm, has sold its $65 million claim in the FTX bankruptcy case, according to chief investment officer Travis Kling. In a post on X, Kling stated that they received a higher price than expected and that all investors wanting to redeem from the fund can now do so. While most of the capital will remain in the fund, new subscriptions for existing investors have been opened up for the first time since FTX collapsed. Kling also mentioned that Ikigai has made changes to its business operations to prevent similar situations from occurring in the future.
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Kling expressed interest in a potential relaunch of the exchange but indicated that progress has been slow, prompting Ikigai to sell its claim. He criticized the handling of the process by FTX’s debtors and stated that waiting any longer didn’t make sense. Kling also commented on the broader market, suggesting that a new bull cycle might be on the horizon. He emphasized the need for the industry to avoid repeating past mistakes and seize this opportunity for growth.
Hot Take: Crypto Investment Firm Ikigai Asset Management Sells Claim in FTX Bankruptcy Case
Ikigai Asset Management has successfully sold its $65 million claim in the FTX bankruptcy case, allowing investors to redeem from the fund. The sale exceeded expectations and has provided a significant boost to the firm’s cash proceeds. Despite most of the capital remaining in the fund, new subscriptions are now open for existing investors. Ikigai has also implemented measures to avoid future situations similar to FTX’s collapse. While expressing interest in an FTX relaunch, Kling criticized the slow progress and decided against waiting further. He highlighted the potential for a new bull cycle in the market and urged the industry to learn from past mistakes and make the most of this opportunity.
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