3AC new exchange triggers backlash from the crypto community — ‘No, thank you’
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The launch of the exchange project
On Jan. 16, 3AC and Coinflex founders started gathering funds for the exchange project. The project announced that they were looking to raise $25 million to target claims against bankrupt firms like FTX, Celsius and Voyager.
On Feb 4, BitMEX co-founder Arthur Hayes cited an anonymous source and said the 3AC founders completed the raise. Hayes expressed frustration and said that the bull market must be starting. He tweeted:
Little birdie told me @KyleLDavies and @zhusu completed their raise. Must be the beginnings of a bull market if these muppets get money less than one year after they torched $18 billion on shitcoins. I ain’t mad at ya, but homeboy needs his money back lift tickets be expensive
— Arthur Hayes (@CryptoHayes) February 3, 2023
TechCrunch founder Michael Arrington described it as the “saddest bullshit” he’s heard in a long time. Meanwhile, Macro Financial executive Nik Bougalis said that 3AC founders raising new funds is disgraceful and indicates everything wrong with the space, saying that anyone who provides funds to the 3AC founders should be “treated as scammers.“
