Three Arrows Su Zhu is back and trying to raise $25M capital for a new crypto exchange.
Founders of collapsed crypto hedge fund Three Arrows Capital Su Zhu and Kyle Davies are reportedly trying to raise money for a new cryptocurrency exchange in partnership with Coinflex cofounders Mark Lamb and Sudhu Arumugam. According to a pitch deck, they areThe proposed new exchange is to be called GTX, according to the presentation. It promised to crack the claims market as well:
"Our legal team will streamline and automate claims onboarding to GTX and make it the dominant marketplace for FTX and other bankrupt companies’ claims.". The founders of 3AC, Zhu Su and Kyle Davis, and the two founders of CoinFlex have launched a new project, GTX, which is raising a seed fund of $25m to trade claims from creditors. Su Zhu acknowledged the news to WuBlockchain: “yes, no comment, just busy building it”.
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3AC founders Zhu and Davies pitch to raise $25 million for new crypto exchangeThe pair are partnering with CoinFlex's Mark Lamb and Sudhu Arumugam to launch the new venture, known as GTX, which aims to start offering trading in crypto bankruptcy claims.
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