The founder and chief investment officer 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. »
He announced that they would continue trading their remaining assets, and continue operating their venture fund. However, he said the future of the hedge fund 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, » he continued. « 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. »