{"id":72594,"date":"2023-01-16T17:32:04","date_gmt":"2023-01-16T15:32:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72594"},"modified":"2025-09-09T01:38:06","modified_gmt":"2025-09-08T22:38:06","slug":"3ac-founders-plan-to-raise-25-million-for-a-new-project-reports-say","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/3ac-founders-plan-to-raise-25-million-for-a-new-project-reports-say\/","title":{"rendered":"3AC founders plan to raise $25 million for a new project, reports say."},"content":{"rendered":"<p>The founders of Three Arrows Capital (3AC), Su Zhu and Kyle Davies, intend to raise $25 million to launch a cryptocurrency exchange. <a href=\\\"https:\/\/www.theblock.co\/post\/202589\/3ac-zhu-davies-new-crypto-exchange?utm_source=twitter&#038;utm_medium=social\\\">The Block<\/a> reports, citing two project presentations.<\/p>\n<p>\\n\\n<\/p>\n<p>According to the publication, the platform will be named GTX. Zhu and Davies allegedly are collaborating with CoinFLEX co-founders Mark Lamb and Sudhu Arumugam.<\/p>\n<p>\\n\\n<\/p>\n<p>According to journalist Colin Wu, this is a platform \\&#8221;for trading creditors&#8217; claims.\\&#8221; Zhu declined to comment, saying he was \\&#8221;busy with its creation.\\&#8221;<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">The Deck <a href=\\\"https:\/\/t.co\/5UMjPZnAnA\\\">pic.twitter.com\/5UMjPZnAnA<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1614992388531064842?ref_src=twsrc%5Etfw\\\">January 16, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<p>In July 2022, 3AC <a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-seeks-chapter-15-bankruptcy-protection-in-the-united-states\">filed for bankruptcy<\/a> in a New York court. According to Nansen, the organisation managed assets worth about $10 billion.<\/p>\n<p>\\n\\n<\/p>\n<p>Information about the <a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-co-founder-breaks-silence-amid-insolvency-rumors\">insolvency of Three Arrows Capital<\/a> appeared after <a href=\"https:\/\/u1f987.com\/en\/news\/capitulation-phase-when-will-bitcoins-price-resume-its-rise\">the crypto market crash<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">the Terra collapse<\/a> in May.<\/p>\n<p>\\n\\n<\/p>\n<p>In late June, the Virgin Islands High Court <a href=\"https:\/\/u1f987.com\/en\/news\/british-virgin-islands-court-orders-liquidation-of-three-arrows-capital\">ordered the liquidation<\/a> of the hedge fund. The case drew in partners from the consulting firm Teneo Restructuring.<\/p>\n<p>\\n\\n<\/p>\n<p>Later, Zhu and Davies <a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-co-founders-explain-hedge-fund-collapse-as-overconfidence\">attributed the collapse of 3AC<\/a> to their own excessive self-confidence.<\/p>\n<p>\\n\\n<\/p>\n<p>In December, the liquidators of Three Arrows Capital <a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-creditors-file-for-sale-of-30m-yacht\">recovered<\/a> assets belonging to the hedge fund in banks in Singapore, and also filed a petition to sell a $30 million superyacht.<\/p>\n<p>\\n\\n<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 news on cryptocurrencies, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The founders of Three Arrows Capital (3AC), Su Zhu and Kyle Davies, intend to raise $25 million to launch a cryptocurrency exchange. The Block reports, citing two project presentations.<\/p>\n","protected":false},"author":1,"featured_media":72595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,1352],"class_list":["post-72594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-three-arrows-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72594"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72594\/revisions"}],"predecessor-version":[{"id":72596,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72594\/revisions\/72596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72595"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}