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Ikigai Strategic Partners has been hit with a $150,000 fine by the National Futures Association (NFA) for mishandling Bitcoin loans amidst the ongoing turbulence following the 2022 collapse of crypto exchange FTX. 
According to the <a href="https://www.nfa.futures.org/BasicNet/regulatory-actions-detail-doc.aspx?docid=5264&amp;j=396093&amp;sfmc_sub=147524643&amp;l=18017_HTML&amp;u=6785524&amp;mid=100026896&amp;jb=0" target="_blank" rel="noreferrer noopener nofollow">NFA hearing panel</a> on August 20, Ikigai allowed one of its funds to make an improper loan of about $2.5 million in Bitcoin to a crypto exchange. This exchange was linked to another fund operated by the same principals behind Ikigai, which included fund principal Anthony Robert Emtman. 
The NFA claims this loan violated rules and led to problems for the firm, which struggled to meet investor withdrawal requests. 
Additionally, the complaint also stated that Ikigai used Bitcoin from its main fund as collateral for a $1.3 million loan given to an affiliated fund, Ikigai Capital Partners GP LLC. This move made it even harder for Ikigai to manage its finances and fulfill its obligations to investors. 
In response to the NFA’s findings, Ikigai Strategic Partners and its principal have agreed to pay the fine without admitting to the charges. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
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Ikigai Strategic Partners Fined $150,000 by NFA for Misusing Bitcoin Loan

The Crypto Times

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