{"id":73661,"date":"2023-02-06T15:47:36","date_gmt":"2023-02-06T13:47:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73661"},"modified":"2025-09-09T15:27:41","modified_gmt":"2025-09-09T12:27:41","slug":"arthur-hayes-says-3ac-founders-have-raised-funds-to-launch-gtx","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/arthur-hayes-says-3ac-founders-have-raised-funds-to-launch-gtx\/","title":{"rendered":"Arthur Hayes says 3AC founders have raised funds to launch GTX"},"content":{"rendered":"<p>The founders of the collapsed hedge fund Three Arrows Capital (3AC), Su Zhu and Kyle Davies, have raised funds to launch the cryptocurrency exchange GTX, according to former BitMEX CEO Arthur Hayes.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Little birdie told me <a href=\"https:\/\/twitter.com\/KyleLDavies?ref_src=twsrc%5Etfw\">@KyleLDavies<\/a> and <a href=\"https:\/\/twitter.com\/zhusu?ref_src=twsrc%5Etfw\">@zhusu<\/a> completed their raise. Must be the beginnings of a bull market if these muppets get money less than one year after they torched $18 billion on shitcoins. I ain\u2019t mad at ya, but homeboy needs his money back lift tickets be expensive<\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1621619143777853440?ref_src=twsrc%5Etfw\">February 3, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBirds have chirped that Kyle Davies and Su Zhu have completed their fundraising. It must be the start of a bull market if these muppets got money less than a year after they burned $18 billion on shitcoins,\u201d he wrote.<\/p>\n<\/blockquote>\n<p>Information about the successful fundraising spread by other sources on Twitter.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: Unsuccessful and liquidated hedge fund 3AC, has successfully completed funding for a new crypto exchange GTX.<\/p>\n<p>\u2014 whalechart.org (@WhaleChart) <a href=\"https:\/\/twitter.com\/WhaleChart\/status\/1621909923599683598?ref_src=twsrc%5Etfw\">February 4, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Neither of them specified how much funding the 3AC founders managed to raise.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">NEWS<\/p>\n<p>\u201cGTX\u201d (the notorious FTX \u201csuccessor\u201d) the new <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a> Exchange by 3AC have successfully completed their round of funding \ud83d\ude33<\/p>\n<p>\u2014 Satoshi Stacker (@StackerSatoshi) <a href=\"https:\/\/twitter.com\/StackerSatoshi\/status\/1621870929813856257?ref_src=twsrc%5Etfw\">February 4, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In January, media reported plans by Davies and Zhu <a href=\"https:\/\/u1f987.com\/en\/news\/3ac-founders-plan-to-raise-25-million-for-a-new-project-reports-say\">to raise $25 million<\/a> to launch the GTX cryptocurrency exchange. The 3AC founders allegedly were collaborating with CoinFLEX co-founders Mark Lamb and Sudhu Arumugam.<\/p>\n<p>According to journalist Colin Wu, it is a platform for trading creditors\u2019 claims.<\/p>\n<p>Twitter users mocked the idea of Davies and Zhu launching a new project.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Three arrows capital founders are seeking funding for their new exchange called GTX <a href=\"https:\/\/twitter.com\/hashtag\/cryptofunny?src=hash&#038;ref_src=twsrc%5Etfw\">#cryptofunny<\/a> <a href=\"https:\/\/t.co\/wnl2MrE4rg\">pic.twitter.com\/wnl2MrE4rg<\/a><\/p>\n<p>\u2014 Crypto believer (@CryptoSportsIO) <a href=\"https:\/\/twitter.com\/CryptoSportsIO\/status\/1621439600001708033?ref_src=twsrc%5Etfw\">February 3, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In May 2022, 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>, reports emerged of possible <a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-co-founder-breaks-silence-amid-insolvency-rumors\">insolvency of Three Arrows Capital<\/a>.<\/p>\n<p>In late June the British Virgin Islands court <a href=\"https:\/\/u1f987.com\/en\/news\/british-virgin-islands-court-orders-liquidation-of-three-arrows-capital\">ordered liquidation<\/a> of the hedge fund. In July, 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 group managed assets of about $10 billion.<\/p>\n<p>Subsequently, Zhu and Davies <a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-co-founders-explain-hedge-fund-collapse-as-overconfidence\">attributed the 3AC collapse to overconfidence<\/a>.<\/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> $35.6 million owned by the hedge fund in Singapore banks, and filed a motion to sell a $30 million superyacht.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The founders of the collapsed hedge fund Three Arrows Capital (3AC), Su Zhu and Kyle Davies, have raised funds to launch the GTX cryptocurrency exchange, according to former BitMEX CEO Arthur Hayes.<\/p>\n","protected":false},"author":1,"featured_media":73662,"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":[1166,52,1352],"class_list":["post-73661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-investments","tag-three-arrows-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73661","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=73661"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73661\/revisions"}],"predecessor-version":[{"id":73663,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73661\/revisions\/73663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73662"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}