Ikigai, a cryptocurrency firm, decisively sells $65 million worth of FTX debt, eagerly anticipating FTX 2.0.

Travis Kling believes that this decision hinges on the opportunity cost, whether to bet on the debt market prices continuing to rise or to liquidate some funds at a discount and invest in other products for returns.

Ikigai Sells FTX Claims for Millions of Dollars

Cryptocurrency asset management firm Ikigai Asset Management's founder, Travis Kling, tweeted that due to a significant recovery in FTX claims market prices compared to six months ago, Ikigai also achieved a satisfactory price and sold $65 million in claims from the FTX bankruptcy case.

Ikigai had not previously disclosed how much funds were locked in FTX, making this amount one of the largest, and after receiving the funds, Ikigai will continue to operate its existing investment business, open subscriptions to new investors, and establish new risk mechanisms to prevent a recurrence of the FTX incident.

Known list of claimants, how many prominent institutions have stakes in FTX?

**Update**

We recently sold our $65mm claim in the FTX bankruptcy.

We got a price we were happy with and a price that was much, much higher than we were expecting just six months ago.

Ikigai will continue operating as an investment business.

— Travis Kling (@Travis_Kling) December 22, 2023

Opportunity Cost Matters More

Travis Kling stated that the decision depends on the opportunity cost, whether to bet on the continued rise in claim market prices or to retrieve the original funds at a discount and invest in other products for returns?

However, he did not want to give any advice as each situation is different.

Bankruptcy Team Too Incompetent, FTX 2.0 Unlikely

Travis Kling had previously been very interested in FTX 2.0, but he believes that the FTX bankruptcy team has performed very poorly, resulting in slow progress, and waiting for FTX 2.0 is pointless.

FTX Claims Prices Skyrocket

As previously reported, data from Cherokee Acquisition shows that FTX claims market prices have risen from 50 to 53 cents per dollar at the end of October to the current range of 67 to 72 cents per dollar.

FTX claim prices surge to 73 cents, SOL surpasses XRP as the fifth largest market cap token