Su Zhu and Kyle Davis, founders of Three Arrows Capital (3AC), intend to raise $25 million to launch a crypto exchange.
The platform will be called GTX. Zhu and Davis are allegedly partnering with CoinFLEX co-founders Mark Lamb and Sudhu Arumugam.
According to blockchain-focused journalist Colin Wu, this is a platform “for trading in creditors’ claims.”
3AC filed for bankruptcy in a New York court in July last year. According to Nansen, the organization had about $10 billion in assets under management.
Information about the possible insolvency of Three Arrows Capital appeared after the collapse of the cryptocurrency market and the collapse of Terra in May 2022.
