Summary

Creditors of FTX may receive up to 73% of their original investment following the company’s bankruptcy proceedings. Asset management business Ikigai has sold its claim in FTX, with the price being “much, much higher” than anticipated. Travis Kling, the chief investment officer of Ikigai, did not disclose the exact figure of the sale.

Introduction

Ikigai, an asset management company, has liquidated its claim in the bankruptcy proceedings of FTX. This move comes after it was revealed that a significant portion of Ikigai’s hedge fund assets were held by FTX at the time of its downfall. Travis Kling, the chief investment officer of Ikigai, announced on Twitter that the company sold a $65M claim to its FTX funds due to the attractive price offered.

Main Points

• Some creditors may receive up to 73% of their initial investment in the FTX bankruptcy proceedings, marking a significant recovery for them.
• The exact amount at which Ikigai sold its claim has not been disclosed by Travis Kling.
• Investors impacted by FTX’s bankruptcy are being contacted by attorneys and brokers, offering to buy their claims and provide a quicker return on their lost assets.
• Some creditors are opting to cash out and invest in cryptocurrency now, rather than waiting for the bankruptcy process to conclude.

Conclusion

Creditors of FTX may have an opportunity to recover a significant portion of their initial investment, as some may receive up to 73% of their funds. Ikigai, an asset management business, has sold its claim in FTX at a price that exceeded expectations. Impacted investors have the option to sell their claims and receive a quicker return on their assets, although they may miss out on potential future rewards.