Cryptocurrency fund Ikigai Strategic Partners has agreed to pay a $150,000 fine to the National Futures Association (NFA) following allegations of an illicit bitcoin loan, according to an Aug. 20 decision by an NFA hearing panel. The fine addresses the fallout from the industry-wide liquidity crisis triggered by the collapse of crypto exchange FTX in 2022. The NFA, which regulates the U.S. derivatives market, has been increasingly active in overseeing spot cryptocurrency markets. The NFA’s complaint asserted that Ikigai Strategic improperly allowed one of its pools to advance pool assets to an affiliated entity owned by its principals, including Anthony Robert Emtman. In 2022, Ikigai allegedly loaned $2.5 million worth of bitcoin to a crypto exchange to benefit another fund they controlled. This action, which violated regulatory obligations, left Ikigai unable to meet investor redemption demands. Without admitting or denying the allegations, Ikigai Strategic and its principal agreed to the settlement.
Crypto Fund Settles With NFA Over $2.5M Bitcoin Loan
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