$25M Raised for New Crypto Exchange GTX: Co-Founders of Defunct Hedge Fund Launch Exchange

• Su Zhu and Kyle Davies, co-founders of a defunct crypto hedge fund, are reportedly planning to launch a new crypto exchange called GTX and are looking to raise $25 million from investors.
• The name of the new project is allegedly a reference to FTX, the failed crypto exchange, as the letter G comes after F in the alphabet.
• The new exchange will focus on trading in crypto and is expected to launch in the near future.

Su Zhu and Kyle Davies, the co-founders of a defunct crypto hedge fund, are reportedly planning to launch a new crypto exchange and are looking to raise $25 million from investors. The new exchange is expected to be called GTX and is expected to launch in the near future.

According to two pitch desks, the name of the new exchange is directly linked to the failed crypto exchange FTX, as the letter G comes after F in the alphabet. This reference is clearly a nod to the struggles and controversies that FTX experienced in the past. It was also reported that Su Zhu had publicly expressed his opinions on the FTX debacle and SBF’s actions at the time.

The new exchange, GTX, will focus on trading in crypto. The $25 million that Zhu and Davies are looking to raise will help them launch the exchange. This new exchange will be the latest addition to the crypto exchange industry, which has seen a steady rise in popularity and usage in recent years.

Crypto exchanges provide a secure platform for traders and investors to buy, sell, and trade cryptocurrencies. Many exchanges offer a variety of features, such as staking, futures, margin trading, and more. With the launch of GTX, traders and investors will have yet another option when it comes to crypto exchanges.

It is expected that more information about GTX will be released in the near future, such as the exact launch date, the features that the exchange will offer, and more. For now, it remains to be seen whether the $25 million that Zhu and Davies are looking to raise will be enough to launch GTX successfully.