2 years ago
OPNX has announced a concern with 3AC Ventures – a determination that did not spell down good with the crypto community.
A June 21 tweet elaborate the intent of the concern is to make the OPNX ecosystem, suggesting plans to grow beyond its existent capableness – nary further details were given.
“The concern volition put successful projects gathering successful the OPNX ecosystem and moving towards a decentralized future.”
The co-founders of the OPNX speech are Kyle Davies and Su Zhu of Three Arrows Capital (3AC) and CoinFLEX CEO Mark Lamb.
Following the alleged non-payment of an $84 cardinal borderline telephone indebtedness astatine the hands of Roger Ver, CoinFLEX gained tribunal support for a restructuring woody successful March – this progressive rebranding the institution to OPNX.
Similarly, 3AC filed for bankruptcy successful July 2022, with tribunal filings showing $3.5 cardinal owed to creditors. The hedge fund’s downfall came from high-risk trading strategies, resulting successful unpayable borderline calls pursuing the Terra ecosystem implosion. The incidental acceptable disconnected a domino effect impacting the remainder of the manufacture done liquidity drain.
OPNX was launched connected April 4. It offers spot and futures crypto trading, portion its flagship “Claims” product, which tokenizes bankruptcy claims, opened for concern connected June 2, accepting Celsius claims initially- with plans to rotation retired FTX claims next.
Given the company’s links with CoinFLEX and 3AC, replies to the 3AC Ventures concern were mostly critical, including violative memes. @Rager commented, “clown szn.” While @LilMoonLambo wrote, “Holy sh*t this is simply a existent tweet.”
The communicative has been overmuch the aforesaid since the institution archetypal announced its accomplishment – but OPNX maintains that its Claims merchandise is simply a mode to close the wrongs of past year.
“Open Exchange is simply a solution and location for those harmed by crypto crises, allowing claimants to instantly unleash their locked claims straight into crypto oregon usage them arsenic borderline capital.”
Currently, 3AC Ventures’ website is simply a holding leafage featuring an email interaction nexus and the substance “3AC Ventures is focused connected superior risk-adjusted returns without leverage.”
The station Crypto assemblage voices skepticism implicit OPNX x 3AC Ventures partnership appeared archetypal connected CryptoSlate.
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