Ikigai Asset Management has sold $65 million of its claims in the FTX bankruptcy case

Crypto investment firm Ikigai Asset Management has sold off $65 million of its claims in the FTX bankruptcy case, chief investment officer Travis Kling said in a post on X on Friday. Kling wrote: “We received a price we are happy with that is significantly higher than we expected six months ago. Now that we have received the cash proceeds from the sale of claims, all investors who wanted to redeem their funds have Being able to do that. Most of the capital remains in the fund.” Kling said last year that the company held "the majority" of its assets on FTX and would not be able to get much of its funds back after the exchange filed for bankruptcy protection. Kling added: “For the first time since the collapse of FTX, we have opened new subscriptions to existing investors. Our investors are giving us new capital.” Kling said Ikigai has made changes to its business to avoid "getting into an FTX-like situation again." (The Block)