CoinFLEX: Hopes to develop its business through "GTX," with the raised funds increasing the equity value for shareholders and creditors

2023-01-17 08:10:16

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ChainCatcher news, cryptocurrency exchange CoinFLEX issued a statement in response to questions regarding the proposed "GTX Exchange," stating that its CEO Mark Lamb and executive Sudhu Armugan will continue to serve, hoping to establish and develop the business through the new exchange entity, "We can rename CoinFLEX and will not use GTX."

In addition, CoinFLEX creditors / Series B financing will be the largest shareholder category, and we are also discussing other benefits. Any funds raised will be used to increase the company's and its shareholders' (including creditors) equity value. CoinFLEX aims to provide liquidity avenues that current crypto creditors lack across many different platforms by creating and offering products such as the proposed exchange, and to bring new trading volume to the exchange through crypto trading, while also considering adding other asset classes such as stocks and bonds.

ChainCatcher previously reported that Three Arrows Capital founders Su Zhu and Kyle Davies, along with CoinFLEX's Mark Lamb and Sudhu Armugan, plan to raise $25 million for the new cryptocurrency exchange GTX. (Source link)

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