'We Had The Majority Of The Assets On FTX': Ikigai Hedge Fund CIO Shares It Is Among FTX's Victims

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.

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.”

See Also: FTX Had $8.9 Billion In Debt, Could That Be Why Binance Was Offering $1 To Acquire Business?