OPNX
Open Exchange (OPNX), the world's first public marketplace for crypto claims trading and derivatives, is committed to radical transparency. After the collapse of chains, CEXs, and massive projects in 2022, OPNX emerged as a solution for those affected by crypto crises, allowing claimants to immediately access their locked claims. The platform was launched by Su Zhu and Kyle Davies, co-founders of the now-bankrupt Three Arrows Capital (3AC), which filed for bankruptcy in June 2022 after a series of risky leveraged bets and exposure to the $40 billion collapse of the Terra Luna ecosystem. Despite a slow start, OPNX's daily average volume has exceeded $30 million as of May 31, 2023, when it introduced its native token, OX.
Three Arrows' OPNX Announces Shutdown
OPNX, a cryptocurrency exchange and bankruptcy claims platform, will cease operations by February 14, 2024, due to regulatory challenges and financial penalties.
OPNX's 7-Day Trade Volume Average Hits $80 Million ATH, 69% of Minted $OX Staked
OPNX reports a 7-day trade volume average hitting an all-time high of $80M, with 69% of minted $OX locked in staking.
OPNX to Launch FatManTerra Justice Token, Airdropping to LUNC and LUNA Holders
OPNX has announced the imminent launch of the FatManTerra Justice Token. This move comes in response to the commencement of legal proceedings against FatManTerra by several parties.
OPNX Reveals Venture Capital Backers
OPNX, a new exchange allowing traders to buy and sell claims against bankrupt firms, has revealed its venture capital backers, including AppWorks, Susquehanna, DRW, MIAX Group, China Merchant Bank International, and Token Bay Capital. The exchange has faced criticism due to its association with the bankrupt 3AC hedge fund, but the company claims it will help make customers of failed crypto ventures whole again.