Ikigai Crypto Hedge Fund Lost Access to Huge Amount of Assets
Many businesses are being impacted by FTX's bankruptcy. Ikigai Fund, a cryptocurrency hedge fund, has now officially entered the game. On November 14, 2022, Ikigai Fund announced that the FTX issue had severely impacted them.
Travis Kling, the founder and chief investment officer of Ikigai Fund, shared the awful news on Twitter. He indicated that the corporation owns a significant amount of assets in FTX, which is currently bankrupt. They attempted to withdraw on Monday morning, but were only able to save a portion of their assets.
For the time being, the crypto investment business will resume trading its non-FTX assets. They will also make decisions on the future of their venture funds, which were unaffected by the FTX debacle. Unfortunately, the business is unclear of their timing and recovery prospects. They are still debating whether to maintain operations or to phase them out.
Kling believes that the crypto industry is dominated by negative actors and sociopaths. Everyone must now work extra hard to recover from the destruction. If the Ikigai Fund persists, they will fight even harder.
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