Ikigai Asset Management announces "large majority" of assets trapped in FTX
The founder and CIO of the Californian crypto hedge fund Ikigai Asset Management announced on Twitter that a "large majority" of assets trapped in FTX
Andre Fernandez
15, Nov 2022Like this? Subscribe for only our best updates.
Ikigai Asset Management announces "large majority" of assets trapped in FTX
The founder and CIO of the Californian crypto hedge fund Ikigai Asset Management wrote on Twitter
"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."
The announcement stated they would continue trading the remaining assets and continue operating the venture fund.
He said the future of the hedge fund at this stage was unclear and likely to depend on what happens with FTX customer withdrawals.
"I'm pretty disgusted with the space as a whole and kinda humanity in general,"
"I'm at a loss for words at the depth & breadth of the pieces of shit that permeate crypto. So many fucking sociopaths were granted the opportunity to do so much damage. It's hard for me to imagine the space bouncing back quickly from this ordeal. Too many got burned too hard."
We will keep watch for further announcements.