In a series of tweets, Ikigai Asset Management CIO Travis Kling reported his hedge fund was directly affected by the financial disaster of FTX that shocked the entire crypto community.
And, there is no one better to tell us what happened than Kling himself, via the Twitter thread below.
There’s a lot of uncertainty about what’s going to happen next. In the very near-term, Ikigai is going to continue trading the assets we have left that are not stuck on FTX. We’re also going to make a decision about what to do with our venture fund, which was unaffected by FTX.— Travis Kling (@Travis_Kling) November 14, 2022
Ikigai investors are among the increasing amount of victims of FTX's financial mismanagement. Calls are more than ever for the community to learn from its mistakes and hopefully it will return to the transparency that once characterized it.
Crypto did not fall, Bitcoin BTC/USD did not fall and the blockchain is still generating blocks. What failed was a centralized private company full of red flags, as CZ stated: “The Miami stadium (FTX Arena), the acquisitions, investments in crypto projects. I was always curious about where they were getting all this money from. We also knew how much money they had raised. They just couldn’t have so much cash.”
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