What's the deal with three arrows capital?

The co-founders of the failed Three Arrows Capital (3AC) cryptocurrency hedge fund want $25 million to start up a proposed exchange, as reported earlier by The Block and Bloomberg. It will be called “GTX” — according to its leaked pitch deck — “because G comes after F,” and FTX, the once-huge exchange, is now bankrupt.

Is GTX raising a $25 million seed for CoinFLEX?

GTX is raising a $25 million seed for the platform, with a goal of coming to the market by the end of February at the latest, according to the deck. Mark Lamb and Sudhu Arumugam, co-founders of crypto trading platform CoinFlex, are listed alongside Davies and Zhu as founding members.

What's going on with GT Capital?

Other on-going projects are Bellefort Estates in Bacoor, Cavite; Carmona Estates in Carmona, Cavite; and Micara Estates in Tanza, Cavite. 2015 With GT Capital In the third quarter of 2015, GT Capital acquired 22.68% of the business and brought it up to 51% by mid-2016.

What is GTX's pitch to 3AC?

Part of GTX’s pitch is letting people buy and sell bankruptcy claims from failed crypto firms, as well as use those claims as collateral. The group’s looking to raise funds “ASAP” for a potential launch by the end of February, according to the pitch deck. 3AC certainly has experience with failed crypto companies.