Asset Management Firm Ikigai liquidates a $65 million claim in FTX. Ikigai, a company specializing in asset management, announced that it has liquidated its claim in FTX’s bankruptcy proceedings. This announcement came after the company disclosed that the exchange had held a sizeable percentage of its hedge fund’s assets during its collapse.
The chief investment officer of Ikigai, Travis Kling, stated on Twitter on December 22 that the company sold a claim for $65 million to its FTX funds because the price was “much, much higher” than what was anticipated.
Exact Figure Unknown
According to sources, certain creditors might receive as much as 73% of the initial investment, which would be the highest price since the bankruptcy of FTX in November 2022. Kling, on the other hand, did not provide any information regarding the amount of money that the company had received for selling the claim.
“When it came down to it, the decision regarding whether or not to sell the claim was primarily based on the concept of opportunity cost. This refers to the amount of money that you believe the claim price would increase in the future in comparison to the amount of money that you could take now and invest in something else that has the potential to generate a return.”
It has been almost a year since FTX and some of its subsidiaries filed for bankruptcy. Yet, attorneys and brokers are still reaching out to affected users with the opportunity to sell their claims. Investors may be able to get some of their lost assets returned to them quickly, as opposed to having to wait for probable repayment from the creditors of FTX, which might take months or even years.
Several creditors have expressed on social media that they would prefer to have the money transferred to them sooner so that they can invest in Bitcoin. This is done to prevent missing out on the possibility of a bull run when it occurs. However, even if they do pay out, they will not be eligible for the larger prize once the bankruptcy process of FTX has been completed.