BlocksInform
Founders of the crypto hedge fund bankruptcy, three capital arrows, and crypto exchange coinflex, are launching investors to raise 25 million dollars for a new crypto exchange based on trade claims.
Founding members of the now defunct crypto hedge fund, 3 capital arrows (3ac), su zhu or kyle davis, launch investors with the hopes of raising 25 million dollars to begin a new crypto-exchange called gtx. Zhu and davis are joined into the company by coinflex co-founder brand lambskin and sudhu arumugam. Two separate pitch decks were obtained by the news agency The Block.
Zhu and davis attempt to give life to gtx after ftx implosion, which has seen millions of creditors lose their funds. Gtx is intended to take advantage of the ftx situation by providing depositors with the option to transfer their ftx receivables to gtx to receive immediate credit in the form of a token named usdg. GTX is a spin on the "FTX" name "because G comes after F," under one of the pitch bridges.
GTX will use CoinFlex technology to build the stock exchange, while a legal team will oversee the integration of claims for recent 2022 bankruptcies like Voyager, BlockFi, Mt.Gox, and Celsius. As per launch bridges, The objective of gtx is to launch in the near future, Perhaps already this February, and estimates that the claims contract is worth about 20 billion dollars.
The gtx pitch deck has not been successfully received in the crypto community. Wintermute CEO Evgeny Gaevoy said on Twitter:
If you are investing into CoinFLEX/3AC[’s] ‘exchange’ you might find it a bit more difficult to work with Wintermute in future (on the relationship building side). Adding, "Also, we're not going on launch tours where these guys are about to walk into the capitalization table, so the founders are suspicious."
