• Three Arrows Capital’s founders, Su Zhu and Kyle Davies, have launched a new crypto exchange platform called Open Exchange (OPNX).
• OPNX will be the world’s first public marketplace for crypto claims trading and derivatives.
• The exchange is partnering with CoinFlex’s Mark Lamb and will use its native token FLEX as the primary token.
Three Arrows Capital Founders Launch New Crypto Exchange
Three Arrows Capital (3AC) founders Su Zhu and Kyle Davies are launching a new crypto exchange platform called Open Exchange (OPNX). The exchange is partnering with CoinFLEX’s Mark Lamb and will use its native token FLEX as the primary token. It is supposedly: „The world’s first public marketplace for crypto claims trading and derivatives.“
Creditors Support OPNX Launch
In a Twitter thread, 3AC co-founder Su Zhu claimed that his creditors supported the idea of setting up a new crypto exchange. According to him, the creditors believed that OPNX was the wisest way to use the remaining resources.
Open Exchange Waitlist Not Available For US Users
On Twitter, Su Zhu announced that „It is with humility that we announce the claims waitlist is now open,“ although it was not open to claimants from the United States at press time. OPNX aims to tap into what they believe is a $20 billion market of crypto claims by bringing together DeFi and CeFi in order to unlock trapped claims.
CoinFLEX Token Price Drops Following Announcement
Interestingly, CoinFLEX’s native token FLEX saw its price drop more than 30% following announcement of OPNX launch at press time. Crypto Twitter remained vocal in its disapproval of this new venture from 3AC’s founders at press time as well.
Overall, despite criticism from some quarters, it appears that 3AC founders are determined to make their mark once again in the cryptocurrency space with their newest venture – Open Exchange (OPNX). Whether or not it succeeds remains to be seen.