Hedge funder that lost $65 million on FTX says bankruptcy is going better than expected

Quick Take

  • Travis Kling revisits his firm’s challenging journey from losing $65 million of assets in FTX’s bankruptcy to his hopeful outlook on their recovery.

Episode 86 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro and Ikigai Asset Management Founder & Chief Investment Officer Travis Kling. 

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Travis Kling is the Founder & Chief Investment Officer of Ikigai Asset Management — a crypto asset management startup that had a 'large majority' of its assets stuck on FTX when the exchange declared for bankruptcy last year.

In this episode, recorded on the eve of former FTX boss Sam Bankman Fried's criminal trial, Kling recounts his story since last November when FTX imploded and explains why he remains optimistic about the potential for recovery.

00:56 - Introduction
03:01 - Ikigai’s $65 Million FTX Disaster
05:10 - FTX Estate’s Balance Sheet
08:01 - FTX 2.0
12:01 - Problems with Binance
15:41 - Rebuilding Trust with Exchanges
18:03 - SBF Trial
19:14 - Closing Thoughts

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Davis Quinton is the Director of Podcasts at The Block and runs our flagship podcast called The Scoop, hosted by Frank Chaparro. Since joining The Block as an 'intern' in early 2022, he has worked closely with leaders across departments to translate The Block's written content into engaging multimedia formats. He holds a degree in Social Research & Public Policy from New York University in Abu Dhabi and is based in Sydney, Australia.
Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].


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