Ikigai Asset Management, a California-based crypto hedge fund established by Travis Kling, has only managed to withdraw “very little” of the “large majority” of the firm’s assets from bankrupt FTX, according to a report by u.today.
Kling, a former portfolio manager at Steven Cohen’s hedge fund Point72, announced on Twitter that the fund is now “stuck alongside everyone else” following the collapse of Sam Bankman-Fried’s digital assets exchange.
Kling has accepted full responsibility for the loss of assets, tweeting on Monday that “I have publicly endorsed FTX many times and I am truly sorry for that. I was wrong. I’m pretty disgusted with the space as a whole and kinda humanity in general”.
Kling has yet to reveal whether Ikigai will be forced to wind down but he has said that his $30 million web3-focused venture fund has not been affected by the FTX collapse.
