Is GTX, the Crypto Exchange Launched by 3AC Founders, the New FTX?

If 2022 was a crazy year for crypto markets, 2023 is just 

Getting started. As per recent reports, the disgraced 3AC founders are aiming to raise $25 million for their new project, GTX.

The 3AC founders are currently working with CoinFlex co-founders Mark Lamb and Sudhu Arumugam for this new project. The new project will focus on trading bankruptcy claims filed by crypto companies like Celsius, Voyager Digital, and the most recent FTX.

However, the crypto community voiced concerns about the launch of a new crypto project. The community believes that the project will depict scenarios similar to those presented by FTX in September 2022.

Is GTX the new FTX?

The collapse of the Terra Luna ecosystem significantly affected a number of crypto exchanges in the last year. As a result, the leading crypto lending platform 3AC filed for bankruptcy in July 2022. After the bankruptcy filing, the founder of the disgraced lending platform went missing.

But soon after FTX went bankrupt in September 2022, the two founders of 3AC resurfaced in Saudi Arabia. Currently, the crypto community is in shock that the founders are raising $25 million rather than going to jail.

This creates a lot of buzz in the crypto industry about the legitimacy and viability of the new project GTX. As reported by Watcher Guru, “the name GTX is very similar to the name FTX. It is also undeniable that G comes after F in alphabetical order, implying that the project could be the new FTX."

Meanwhile, experts believe that the new project might help the affected users of the bankruptcy crypto exchange FTX.  

What are your thoughts on the disgraced 3AC founders launching a new crypto project? Do you believe that GTX is the new FTX? Please leave your valuable thoughts in the comment section below.

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