According to a briefing obtained by The Block, Su Zhu and Kyle Davies, founders of bankrupt hedge fund Three Arrows Capital (3AC), and Mark Lamb and Sudhu Arumugam of CoinFlex, are expected to raise US$25 million to open an exchange called GTX. Exchange.

It will offer insolvency claims trading in cryptocurrencies starting in February, according to the briefing. Kyle Davies did not respond to this message.

Origin of naming: after FTX, so called GTX

GTX has an interesting naming scheme. It started raising funds after FTX, so it was called GTX. Its main business was also the transaction of FTX's bankruptcy claims.

Three Arrows Capital makes a comeback

The founders of the bankrupt Three Arrows Capital, Su Zhu and Kyle Davies, were silent for a time after the LUNA incident. Until the FTX incident broke out, Su Zhu became very active. Even accusing The Block of his relationship with FTX, of which he claimed to be an early whistleblower. However, The Block founder Mike Dudas said at the time that Su Zhu was just making noise to raise funds.

It seems to have been confirmed now.

More news from Three Arrows Capital

This article "F is followed by G" The Block: Three Arrows Capital and the founder of CoinFlex raise funds to form a "bankruptcy debt" exchange GTX first appeared on Chain News ABMedia.