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Travis Kling believes this decision depends on the opportunity cost: whether to bet that the debt market prices will continue to rise or to retrieve some funds at a discount and invest in other products for returns. Ikigai sells tens of millions of dollars in FTX bonds.
Cryptocurrency asset management firm Ikigai Asset Management's founder, Travis Kling, tweeted that due to the significant recovery in FTX bond market prices compared to expectations six months ago, Ikigai achieved a satisfactory price and sold $65 million in claims in the FTX bankruptcy case.
Ikigai had not disclosed how much funds were locked on FTX previously, but this amount appears to be substantial. 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.
(Opportunity Cost Matters)
Travis Kling states that this decision hinges on opportunity cost: whether to bet on the continuous rise of the debt market prices or to retrieve the original funds at a discount and invest in other products for returns.
However, he refrains from offering any advice as everyone's situation is different.
(FTX 2.0 Expectations Dampened by Poor Bankruptcy Team)
Travis Kling has previously shown great interest in FTX 2.0, but he believes that the FTX bankruptcy team has performed poorly, leading to slow progress. Waiting for FTX 2.0, in his opinion, is now meaningless.
(FTX Bond Prices Surging)
Previously reported, data from Cherokee Acquisition indicates that FTX bond market prices have surged from 50 to 53 cents per US dollar at the end of October to the current 67 to 72 cents per US dollar. |
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Post time 27-12-2023 21:01:42