OPNX has declared it will cease all activities next month. This decision comes as co-founders Su Zhu and Kyle Davies grapple with legal repercussions stemming from their previous venture’s failure, Three Arrows Capital.
OPNX to Shut Down Amid Three Arrows Co-Founders’ Legal Troubles
Open Exchange (OPNX), a platform unique for trading bankruptcy claims alongside its crypto exchange operations, has announced it will cease all operations by Feb. 14. The closure comes after a tumultuous period for the co-founders, Kyle Davies and Su Zhu, who are also known for their involvement in the collapse of the Singapore-based crypto hedge fund, Three Arrows Capital (3AC).
According to an email sent to OPNX users, the exchange has urged its clientele to close all positions by Feb. 7 and to ensure that all funds are withdrawn by the shutdown date of Feb. 14, after which the withdrawal functionality will be disabled. This news has sent shockwaves through the crypto community, with the platform’s
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