"After F comes G" The Block: Three Arrows Capital and CoinFlex founder raise funds to establish "bankruptcy claims" exchange GTX
According to a presentation obtained by The Block, Su Zhu and Kyle Davies, founders of the hedge fund Three Arrows Capital 3AC, along with Mark Lamb and Sudhu Arumugam from the CoinFlex exchange, are expected to raise $25 million to launch a new exchange called GTX.
The presentation indicates that they plan to offer cryptocurrency bankruptcy claim trading starting in February. Kyle Davies has not responded to this news.
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Naming Origin: Named GTX after FTX
The naming principle of GTX is quite interesting. It started fundraising after FTX, hence the name GTX. Its main business is also related to the trading of FTX bankruptcy claims.
Three Arrows Capital Resurfaces
Following the bankruptcy of Three Arrows Capital, founder Su Zhu and Kyle Davies remained silent after the LUNA incident. However, they became active again after the FTX incident. Su Zhu even accused The Block of colluding with FTX and claimed to be an early whistleblower for FTX. Nevertheless, The Block's founder Mike Dudas had previously stated that Su Zhu was just creating noise for fundraising purposes.
It seems that the situation has now been confirmed.
For more news on Three Arrows Capital, please stay tuned.