Disgraced founders of the now-bankrupt hedge fund Three Arrows Capital (3AC), Kyle Davies and Su Zhu, have succeeded to raise fresh capital for their new startup called GTX, a former BitMEX head, Arthur Hayes, wrote in a tweet, citing sources close to the matter.
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Hayes didn't reveal more details on funding. It is also unclear if Davies and Zhu managed to hit the $25 million funding mark they were initially targeting. Hayes added:
"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't mad at ya, but homeboy needs his money back lift tickets be expensive"
In January, reports said that Davies and Zhu were pitching their new startup GTX, a debt marketplace. In the meantime, advisors working to liquidate 3AC — which owes creditors over $2.8 billion — have accused Davies and Zhu of not cooperating with them. Their whereabouts remain unclear so far.
In October last year, Bloomberg revealed that the US Securities and Exchange Commission (SEC) alongside the Commodity Futures Trading Commission (CFTC) had launched a probe against the notorious hedge fund over possible violation of financial rules.
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