Three Arrows Capital (3AC) co-founders Kyle Davis and Su Ju, along with CoinFLEX co-founders Mark Lam and Sudu Arumugam, have raised nearly $25 million to launch a new cryptocurrency exchange called GTX. is about to launch.
GTX is designed to allow creditors of bankrupt exchanges such as FTX, Celsius, BlockFi and Mt.Gox to claim their assets and use those claims for trading.
according to pitch deck Now available on CryptoSlate, the GTX team is looking to raise around $25 million to fully develop the exchange.
The funds will be used to streamline the onboarding process for bankrupt exchange creditors.
GTX says it plans to launch the product by the end of February 2023, once the funding is complete.
After 3AC, the CoinFLEX co-founder, who is looking to raise $25 million for a new crypto exchange, first appeared on CryptoSlate.