Su Zhu and Kyle Davies Raising $25M for a Crypto Exchange: Report

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The two people behind the now-bankrupt crypto hedge fund Three Arrows Capital are reportedly planning to launch a new exchange and want to raise $25 million from investors.

The name of the new project will be GTX and will have a somewhat controversial relation to FTX. The $25 million Zhu and Davies are looking to raise now should help them launch the new exchange that will focus on trading in crypto bankruptcy claims.

The report also noted that the FTX creditors will transfer their claims on the former SBF-led exchange to GTX upon its launch.

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