Cryptocurrency trading platform CoinFLEX issued a statement in response to questions about the proposed GTX trading platform, stating that the trading platform it jointly created with 3AC will not be named GTX, and GTX is just a placeholder name. At the same time, CoinFLEX is considering creating compliant trading platforms for other asset classes, which would have their own entities and brand names.

In addition, two senior executives, Mark Lamb and Sudhu Arumugam, will remain on board, with Mark continuing to serve as CEO. As funding increases, CoinFLEX may add key members to build and grow the business.

Previously, Three Arrows Capital founders Su Zhu and Kyle Davies are working with CoinFLEX co-founders Mark Lamb and Sudhu Arumugam to raise $25 million to launch a new cryptocurrency trading platform called GTX.