Ikigai sold FTX bankruptcy filing, says Travis Kling.
Crypto investment firm Ikigai Asset Management has sold $65 million of its claims in the FTX bankruptcy case, Chief Investment Officer Travis Kling said on Friday. post At X.
“We got a price we were happy with and a much higher price than we had expected just six months ago,” Kling wrote. “Now that we have received the cash proceeds from the sale of claims, any investor wishing to redeem from the fund can do so. The majority of the capital remains in the fund.”
cling said Last year, the company held a ‘vast majority’ of its assets in FTX and was unable to withdraw most of them after the exchange filed for bankruptcy protection.
“For the first time since FTX went bankrupt, we have launched new subscriptions for existing investors,” Kling added. “Our investors are providing us with new capital.”
Kling said Ikigai had made changes to its business to avoid “getting into trouble like FTX again.”
FTX 2.0
Kling said he was interested in restarting the exchange, but the process was moving too slowly and he couldn’t wait.
“The debtors have made such a mess of the process and progress has been so slow that it makes no sense for us to wait and file lawsuits any longer to see what will happen in 2.0,” Kling wrote.
Commenting on the broader market, he said a new bull circle is likely to emerge soon.
““It’s kind of surprising TBH,” he wrote.My biggest hope is that, as an industry, we don’t screw up that opportunity. “My biggest worry is that if I mess up again like I did last time, I might not get another chance.”
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