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John Reed Stark Mocks 3AC’s New Exchange CoinFLEX

Published 01/17/2023, 08:29 AM
Updated 01/17/2023, 08:30 AM
John Reed Stark Mocks 3AC’s New Exchange CoinFLEX

  • John Reed Stark mocks bankrupt Three Arrow Capital and CoinFlex’s new venture.
  • The partnership is looking to raise $25 million to fund a new exchange based on claims trading.
  • The exchange will offer FTX creditors the opportunity to transfer their claims to GTX.

John Reed Stark of John Reed Stark Consulting LLC retweeted a post on January 17, announcing a collaboration between bankrupt crypto hedge fund Three Arrows Capital (3AC) and fallen exchange CoinFLEX to power a new cryptocurrency exchange.

He mocked the partnership, adding that such a collaborative venture between two bankrupt entities will only be possible in an “upside down world of crypto.” He further shares that whatever will come next will be even more “mind-boggling,” such as “Elizabeth Holmes raising money to start a new drug manufacturing firm?”

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