Founders of Bankrupt Crypto Hedge Fund 3AC Mocked After Pitching New Venture
- Zhu, Davies team up with founders of troubled CoinFLEX bourse
- 3AC duo has been sparring online with hedge fund’s liquidators
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The founders of cryptocurrency hedge fund Three Arrows Capital, which saddled investors and lenders with potentially billions of dollars of losses when it imploded last year, are seeking money for a new venture. Judging by reactions on Crypto Twitter, they face an uphill battle.
Su Zhu and Kyle Davies are seeking to raise about $25 million for a crypto exchange called GTX that will focus on trading in crypto claims, according to a pitch deck for the proposed business seen by Bloomberg News. They’re teaming up with the founders of CoinFLEX, a digital-asset exchange that filed for restructuring in the Seychelles in August.