3AC Founders Launch Crypto Claims Exchange
VICTORIA, SC – The founders of Three Arrows Capital (3AC), Su Zhu and Kyle Davies, launched a new cryptocurrency exchange, Open Exchange (‘OPNX’), Tuesday, according to a tweet from the new company. Headquartered in Seychelles, OPNX simultaneously launched its native CoinFLEX ($FLEX) token.
OPNX offers claims trading from bankrupt crypto companies, many of which failed last year. Ironically, one of those failed companies was 3AC which collapsed after it overleveraged its assets and subsequently could not repay its loans.
Approximately 20 million investors worldwide could be waiting for years to reclaim their funds from failed exchanges such as FTX and Celsius; OPNX wants to help these claimants get their money back.
After a marred reputation and being subpoenaed last year over the ignominious collapse of 3AC, Zhu and Davies are rebranding themselves through OPNX as a “solution and home for those harmed by crypto crises.” The OPNX website does acknowledge the “hard-learned mistakes” the founders made during the 3AC debacle.
