What happened to ikigai asset management?

California-based hedge fund Ikigai Asset Management had a "large majority" of its assets on defunct crypto exchange FTX, according to the firm's founder and chief investment officer Travis Kling. "Last week Ikigai was caught up in the FTX collapse. We had a large majority of the hedge fund’s total assets on FTX," Kling said on Twitter on Monday.

What is ikigai?

Ikigai is a crypto asset management firm. Ikigai has built a team of experienced investment professionals, entrepreneurs, engineers, and data scientists. We seek to generate superior risk-adjusted returns on a repeatable basis from investment in crypto assets and Distributed Ledger Technology opportunities.

How many investors did ikigai raise?

According to a press release about the raise, Ikigai had more than 275 investors around the world. As for where crypto in general goes from here, Kling wrote that “It’s obvious now that the space has not done enough to identify and expel bad actors.

What is a hedge fund?

Hedge funds are financial partnerships that use pooled funds and employ different strategies to earn active returns for their investors. The hedge fund industry has grown from one fund and manager in 1949 to more than 8,800 hedge fund managers and over 27,000 funds worldwide.