Ikigai, the founder of the cryptocurrency asset management company: The vast majority of hedge fund assets are on FTX

ChainCatcher news, Travis Kling, founder and chief investment officer of the cryptocurrency asset management company Ikigai, stated on social media that the vast majority of Ikigai's hedge fund assets are on FTX, and "very little" was retrieved when exiting on Monday morning. In the short term, Ikigai will continue to trade the assets that are not stuck on FTX and will decide how to handle the risk fund, which is unaffected by FTX. As the timeline for FTX customers and potential recovery becomes clearer in the coming week, it will determine whether Ikigai will continue to operate.

Travis Kling reflected: "If crypto is to recover and continue its journey of making the world a better place, I believe the entire concept of trust must be completely restructured. Bitcoin is trustless. Then we built all these trusted things around it, and those have catastrophically failed. The crypto world has not done enough to identify and expel bad actors. We have allowed too many antisocial individuals to become too powerful, and we all paid the price."

Previous report, in May this year, Ikigai announced it had raised $30 million in venture capital. (Source link)