Ikigai Strategic Partners Fined $150K by NFA for Mishandling Bitcoin Loans

Ikigai Strategic Partners has been hit with a $150,000 fine by the National Futures Association (NFA) for mishandling Bitcoin loans

Ikigai Strategic Partners, a Commodity Pool Operator (CPO), has been fined $150,000 by the National Futures Association (NFA) for mishandling Bitcoin loans.

The NFA hearing panel found that Ikigai allowed one of its funds to make an improper loan of about $2.5 million in Bitcoin to a crypto exchange that was linked to another fund operated by the same principals behind Ikigai, including fund principal Anthony Robert Emtman.

The NFA said this loan violated rules and led to problems for the firm, which struggled to meet investor withdrawal requests.

The complaint also said 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.

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