The cryptocurrency hedge fund Three Arrows Capital (3AC)—which filed for bankruptcy last summer amid a steep crypto-market selloff—will seek funding to create a new exchange “GTX” that will focus on trading in crypto claims.
last summer amid a steep crypto-market selloff—will seek funding to create a new exchange “GTX” that will focus on trading in crypto claims, according to a leaked pitch deck that has circulated online, a proposal that some have mocked for the
proposed name’s similarity with FTX.SOPA Images/LightRocket via Getty Images3AC founders Su Zhu and Kyle Davies will partner with Mark Lamb and Sudhu Arumugam, the founders of crypto exchange CoinFLEX, in raising $25 million in seed money for the new platform.
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A Large Crypto Market Maker Is Already Distancing Itself From New 3AC VentureThe co-founders of bankrupt hedge fund 3AC zhusu and KyleLDavies are raising $25M to take over the crypto claims market but crypto community is already distancing itself from the new venture. by egreechee and Aoyon_A.
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CoinFLEX clarifies position on possible new 3AC project amid backlashAmid backlash, CoinFLEX clarified that the 'GTX' name would not be used, and argued that any funds raised would be used for operational growth, which will be good for CoinFLEX's creditors and shareholders.
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