TechFlow news, cryptocurrency exchange CoinFLEX has issued a statement responding to questions regarding the proposed "GTX exchange," confirming that its CEO Mark Lamb and executive Sudhu Armugan will remain in their positions. They aim to establish and grow the business through a new exchange entity. "We can rebrand CoinFLEX; we won't be using GTX."
Furthermore, CoinFLEX creditors / Series B funding round participants will constitute the largest shareholder group. The company is also discussing additional benefits, with any raised funds directed toward increasing corporate value and equity for shareholders—including creditors. CoinFLEX aims to create and offer products such as the proposed exchange, providing current crypto creditors with liquidity avenues currently lacking across many platforms, bringing new trading volumes to the exchange via crypto trading, and considering expanding into other asset classes such as equities and bonds.
Earlier report: Su Zhu and Kyle Davies, founders of Three Arrows Capital, along with CoinFLEX's Mark Lamb and Sudhu Armugan, planned to raise $25 million for a new cryptocurrency exchange called GTX. Source link
