Founders of collapsed crypto hedge fund Three Arrows Capital (3AC) Su Zhu and Kyle Davies are reportedly seeking to prefer cash for a new cryptocurrency replace in partnership with Coinflex cofounders Fee Lamb and Sudhu Arumugam. In accordance with a pitch deck, they’re having a look to prefer $25 million.
The proposed new replace is to be called GTX, based on the presentation. They propose to namely target claims in opposition to bankrupt companies. “FTX customers are promoting claims at ~10% face value for rapid liquidity or waiting 10+ years for the industrial slay to process disbursements,” the presentation mentioned. It promised to crack the claims market: