Will CoinFLEX start a new crypto exchange with 3AC?

Some saw CoinFLEX’s plans to start a new crypto exchange with 3AC as controversial because 3AC was itself a firm that went bankrupt while its founders’ w hereabouts are still unknown.

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 the founders of 3AC and CoinFLEX?

The founders of 3AC, Zhu Su and Kyle Davis, and the two founders of CoinFlex have launched a new project, GTX, which is raising a seed fund of $25m to trade claims from creditors. Su Zhu acknowledged the news to WuBlockchain: “yes, no comment, just busy building it”.

Does CoinFLEX have a 'GTX' exchange?

In a blog post published shortly after, CoinFLEX went on to “clarify misconceptions about the leaked materials concerning the proposed ‘GTX’ Exchange.” Firstly, CoinFLEX said it won't actually be using the “GTX” name as detailed in the pitch deck, noting that it only serves as a placeholder name for now.