3AC, Coinflex founders collaborating to boost $25M for brand spanking new claims buying and selling change

Founders of collapsed crypto hedge fund Three Arrows Capital Su Zhu and Kyle Davies are reportedly making an attempt to boost cash for a brand new cryptocurrency change in partnership with Coinflex cofounders Mark Lamb and Sudhu Arumugam. In line with a pitch deck, they wish to increase $25 million. 

The proposed new change is to be referred to as GTX, in line with the presentation. It promised to crack the claims market as nicely:

“Our authorized staff will streamline and automate claims onboarding to GTX and make it the dominant market for FTX and different bankrupt corporations’ claims.”

Cryptocurrency change Coinflex halted withdrawals in June and is within the means of restructuring. 

The founders of 3AC, Zhu Su and Kyle Davis, and the 2 founders of CoinFlex have launched a brand new venture, GTX, which is elevating a seed fund of $25m to commerce claims from collectors. Su Zhu acknowledged the information to WuBlockchain: “sure, no remark, simply busy constructing it”.

— Wu Blockchain (@WuBlockchain) January 16, 2023

Associated: Three Arrows Capital collectors specific frustration with chapter course of throughout name