Is CoinFLEX spun out of ftx?

The new exchange’s name appears to be spun out of “FTX.” As part of efforts to launch a new crypto exchange, the founders of liquidated crypto hedge fund Three Arrows Capital (3AC), Su Zhu and Kyle Davies, have reportedly joined hands with CoinFLEX co-founders Mark Lamb and Sudhu Arumugam.

Who are 3 arrows capital & CoinFLEX founders?

Three Arrows Capital’s founders Kyle Davies and Zhu Su and CoinFLEX’s founders Mark Lamb and Sudhu Arumugam have completed financing for their proposed crypto exchange GTX, Arthur Hayes, founder of crypto exchange BitMEX, said on Saturday. The founders intend to raise $25 million in seed funding and market the exchange by February end.

What is CoinFLEX claims GTX?

CoinFLEX claims GTX is a placeholder name for now. The crypto community started comparing GTX with the bankrupt crypto exchange FTX, founded by Sam Bankman-Fried. Interestingly, GTX will also allow impacted crypto investors to liquidate their holdings immediately by selling their claims at significantly discounted rates.

What is the FTX cryptocurrency AD all about?

The ad was for FTX, a cryptocurrency exchange, and sees David popping up in various historical episodes across the years, dismissing a variety of inventions, from the wheel to the Walkman.