Source: Adobe / pathdoc Creditors of the crypto derivatives exchange CoinFLEX are alleging that the newly established creditor claims marketplace OPNX, founded by bankrupt crypto hedge fund Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, wrongfully used CoinFLEX assets without their consent. The accusations are detailed in a writ of summons filed in…
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According to a recent court filing, interim judicial managers for the troubled crypto lender Hodlnaut oppose a takeover by the crypto firm OPNX, which is linked to the now-defunct crypto hedge fund Three Arrows Capital and its founders. OPNX Takeover Faces Resistance from Hodlnaut’s Judicial Management On September 19, 2023, Bloomberg’s Suvashree Ghosh reported on…
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OPNX, a digital asset exchange created by the founders of failed hedge fund Three Arrows Capital, has proposed a takeover of the struggling crypto lender Hodlnaut. OPNX has offered to inject $30 million worth of FLEX digital tokens into Hodlnaut to fund a partial creditor payout, Bloomberg reported, citing a source familiar with the matter and a term sheet…. Read…
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Claims can be converted into collateral to trade crypto futures on the exchange. OPNX, an exchange dedicated to the trading of bankruptcy claims against fallen crypto firms, has listed FTX and Celsius claims. According to the July 14 announcement, FTX claims specifically can be immediately onboarded and converted into collateral in the form of OPNX’s…
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Dubai regulators are scrutinizing the co-founders of now-defunct crypto hedge fund Three Arrows Capital over their new unregulated digital asset exchange, OPNX. On April 18, Su Zhu and Kyle Davies received a written reprimand from Dubai’s Virtual Assets Regulatory Authority (VARA) for promoting OPNX without the necessary local license, Bloomberg reported, citing a statement from the…
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OPNX chief Leslie Lamb called out a number of venture capital firms on Twitter after some rushed to distance themselves from the company. A number of supposed Open Exchange (OPNX) investors have been blasted by the CEO of the crypto claims trading platform after some publicly distanced themselves from the project after being named as…
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The U.S. judge presiding over the Three Arrows Capital bankruptcy case has upped the pressure on Kyle Davies to comply with a January-issued subpoena. Kyle Davies, co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has been ordered to answer the subpoena issued to him in Januaryor risk being held in contempt of court.…
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Su Zhu and Kyle Davies, the two founders of the bankrupt crypto hedge fund Three Arrows Capital (3AC), have completed a funding round for their new OPNX exchange and will acquire the remaining assets of the troubled exchange CoinFLEX. The news that fundraising for the new exchange has been completed was shared in a Twitter…
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