According to reports, the founders of the now-defunct crypto hedge fund Three Arrows Capital (3AC) are seeking to raise $25 million from investors to start a new crypto exchange called GTX. This solicitation for new capital comes after 3AC co-founders Su Zhu and Kyle Davies were subpoenaed over the social media platform Twitter.

There’s a flurry of reports and screenshots of an alleged pitch deck and website that claim the two 3AC co-founders, Su Zhu and Kyle Davies, are attempting to raise $25 million from investors. They allegedly want to start a new exchange called GTX. The crypto hedge fund Three Arrows Capital filed for Chapter 15 bankruptcy protection during the first week of July 2022.