Founders of collapsed crypto hedge fund Three Arrows Capital Su Zhu and Kyle Davies are reportedly attempting to lift cash for a brand new cryptocurrency trade in partnership with Coinflex cofounders Mark Lamb and Sudhu Arumugam. In response to a pitch deck, they need to increase $25 million.
The proposed new trade is to be known as GTX, based on the presentation. It promised to crack the claims market as nicely:
“Our authorized crew will streamline and automate claims onboarding to GTX and make it the dominant market for FTX and different bankrupt corporations’ claims.”
Cryptocurrency trade Coinflex halted withdrawals in June and is within the technique of restructuring.
The founders of 3AC, Zhu Su and Kyle Davis, and the 2 founders of CoinFlex have launched a brand new undertaking, GTX, which is elevating a seed fund of $25m to commerce claims from collectors. Su Zhu acknowledged the information to WuBlockchain: “sure, no remark, simply busy constructing it”.
— Wu Blockchain (@WuBlockchain) January 16, 2023
Associated: Three Arrows Capital collectors categorical frustration with chapter course of throughout name