Bankrupt crypto hedge fund Three Arrows caused potentially billions of losses for investors and creditors. Months later, the founders are teaming up with crypto futures exchange, CoinFlex, to start a new venture.
Founders of Three Arrows Capital, a crypto hedge fund whose bankruptcy in June resulted in potentially billions of losses for investors and creditors, are seeking to raise up to $25 million for their new business. The move, however, is drawing significant backlash from the crypto community.
The move comes as liquidators of Three Arrows have worked for months to recover assets for its creditors, and accused Zhu and Davies of concealing their whereabouts. Some market participants have pointed out the irony, while others questioned prospects for the new exchange.
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