The claims exchange of 3AC founders has gone live

Su Zhu and Kyle Davies, co-founders of the now defunct hedge fund Three Arrows Capital, also known as 3AC, have announced the launch of a new cryptocurrency exchange platform called Open Exchange, or OPNX.

Both founders retweeted the official launch announcement on 4 April, which was made by Leslie Lamb, CEO of OPNX. In the announcement, the CEO said that OPNX was open to trading spots and futures immediately.” According to the CEO, the launch of the exchange was aimed to “help the industry” amid the collapse of platforms including FTX and Celsius.

“Claims trading will be the next thing that we launch so that these claimants can have an opportunity to be made whole again,” said Lamb.

The newly launched OPNX is a brainchild of the defunct 3AC founders, as well as high-level executives from the crypto investment platform Coinflex. OPNX launched its website in February 2023.

Following the collapse of 3AC, Coinflex CEO Mark Lamb and co-founder Sudhu Arumugam announced that they would be working with Zhu and Davies to build a new platform, which was reportedly originally pitched as ‘GTX’ before the team settled on OPNX. 

At the time of publication, the whereabouts of both Davies and Zhu were unknown. However, both 3AC co-founders have continued to be active on social media channels.

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