Su Zhu and Kyle Davies, founders of the collapsed hedge fund Three Arrows Capital (3AC), have announced the launch of the Open Exchange or OPNX crypto project.
Both Zhu and Davies retweeted the April 4 launch announcement from OPNX CEO Leslie Lamb, who saying the exchange was open for "trading spot and futures immediately." According to the CEO, the launch of the exchange was aimed at wanting to โhelp the industryโ amid the collapse of platforms like FTX and Celsius.
โClaim trading is going to be the next thing we launch, so these claimants can have a chance to recover,โ Lamb said.
We are delighted to announce that https://t.co/Q2HsUqSZ7E It's live now! Sign up to trade spot and futures immediately. Claim trading is coming very soon
A message from our CEO Leslie: pic.twitter.com/VVVX00AzHf
-OPNX (@OPNX_Official) April 4, 2023
The exchange, the brainchild of the co-founders of 3AC as well as the superiors of crypto investment platform Coinflex, currently subject to a restructuring plan approved in Seychelles, launched its website in February. Three Arrows Capital, the cryptocurrency-friendly hedge fund that once held $10 billion worth of assets, went bankrupt amid the 2022 market crash.
Related: 3AC, Coinflex Founders Collaborate to Raise $25 Million for New Claims Trading Exchange
Following the collapse of 3AC, Coinflex CEO Mark Lamb and co-founder Sudhu Arumugam later said they would work with Zhu and Davies to build a new platform, supposedly originally released as 'GTX' before settling on OPNX. The United States authorities have also issued a summons to Davies via Twitter about his alleged role in the collapse of 3AC.
At the time of publication, the whereabouts of Davies and Zhu were unknown. However, both 3AC co-founders continue to be active on social media channels.
Magazine: $3M OKX Airdrop, 1-Hour Due Diligence on 3AC, Binance AI - Asia Express
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