In order to launch a new cryptocurrency exchange dubbed GTX, the owners of the now-defunct crypto hedge fund Three Arrows Capital (3AC) are reportedly looking to raise $25 million from investors. A subpoena issued to Su Zhu and Kyle Davies, co-founders of 3AC, over their use of the social media site Twitter led to their request for further funding.
3AC founders Zhu and Davies are aiming raise $25 million for new crypto exchange "GTX"
What could go wrong?! pic.twitter.com/vm3NFBYdNZ
— Crypto Crib (@Crypto_Crib_) January 16, 2023
Pitch Deck Displays Co-Founders of Three Arrows Capital Seeking New Investment for GTX Crypto Exchange
According to many reports and pictures of a purported pitch deck and website, Su Zhu and Kyle Davies, the two co-founders of 3AC, are reportedly looking to raise $25 million from investors.
They purportedly intend to launch GTX, a new exchange. In the first week of July 2023, the cryptocurrency hedge fund Three Arrows Capital filed for Chapter 15 bankruptcy protection.