Failed hedge fund Three Arrows Capital is pitching a marketplace where crypto victims can sell their bankruptcy claims - and calling it 'GTX' in an apparent nod to FTX
The founders of failed crypto hedge fund Three Arrows Capital are reportedly trying to launch a new exchange – where people who lost money in the collapse of a digital asset company would be able to buy and sell bankruptcy claims.
The name – which the company's founders said was a placeholder for now – is an apparent reference to FTX, the bankrupt crypto exchange formerly run by Sam Bankman-Fried thatGTX would be a marketplace where creditors to failed crypto companies like FTX could trade bankruptcy claims, the pitch deck said.
The hedge fund defaulted on a $2.4 billion loan from the crypto lending firm Genesis and a $665 million borrowing from the crypto brokerage Voyager Digital last year – leading to its liquidation by a British Virgin Islands court in July.
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