Defunct Three Arrows Capital’s (3AC) co-founders Kyle Davies and Su Zhu — together with CoinFLEX co-founders Mark Lamb and Sudhu Arumugam — need to elevate about $25 million to launch a brand new crypto trade known as GTX.
GTX is designed to assist collectors of bankrupt exchanges like FTX, Celsius, BlockFi and Mt.Gox lay claims on their holdings and used the claims for buying and selling.
In keeping with a pitch deck made accessible to CryptoSlate, the GTX crew is seeking to elevate about $25 million to completely develop the trade.
The funds will likely be used to streamline the onboarding course of for collectors of bankrupt exchanges.
If the fundraising is accomplished, GTX mentioned it expects to launch its product by finish of February 2023.
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