Ikigai Asset Management Had 'Large Majority' of Assets on FTX

California-based hedge fund Ikigai Asset Management had a "large majority" of its assets on defunct crypto exchange FTX, according to the firm's chief investment officer Travis Kling.

"Last week Ikigai was caught up in the FTX collapse. We had a large majority of the hedge fund’s total assets on FTX," Kling said on Twitter on Monday. "By the time we went to withdraw Monday mrng, we got very little out. We’re now stuck alongside everyone else."

This is a developing story and will be updated.