Crypto transparency: Fractal raises $6 million to reshape market structure after FTX, 3AC
Fractal provides a platform for crypto traders that it says offers more transparency than existing capital markets.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users."They sent us the term sheet a week after FTX blew up."
The new company, which announced a $6 million fundraise on Monday, is building out a platform that facilitates more transparent clearing and settlement in digital assets, stripping out the opaqueness that led to the levered deal-making that precipitated the collapse of firms like Three Arrows Capital and FTX.
"A trade with counterparty A and counterparty B doesn't necessarily affect the rest of their counterparties because they all have segregated accounts and you have to post collateral with each account," Kantorovich said."If someone deposits $10 million with a counter-party and that shows up in a dashboard, you can see it is not being rehypothecated."called Ankex as CEO after stepping down from beleaguered lending and trading firm Genesis Global Capital.
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