The founders of hedge fund Three Arrows Capital (TAC) are partnering with Coinflex to launch a claims trading platform for bankrupt crypto companies like Celsius or FTX.
TAC founders Su Zhu and Kyle Davies declared on the creation of a new cryptocurrency exchange Open Exchange (OPNX). They have teamed up with Coinflex CEO Mark Lamb to launch a platform that will allow users to trade claims against failed crypto companies such as FTX, Voyager, Celsius, Genesis, BlockFi, MtGox, HodlNaut, TAC and many more.
Zhu stated that the cryptocurrency debt claims market is worth at least $20 billion, and OPNX’s goal is to offer users a platform to trade their debts or use them as margin collateral. OPNX plans to support its own tokenomics, which will use $FLEX as the main token. OPNX has opened a waiting list and is currently accepting early adopters for an upcoming beta test.
In early February, TAC liquidators Russell Crumpler and Christopher Farmer reported that the founders of a bankrupt cryptocurrency hedge fund were ignoring court orders and deliberately keeping out of touch, hiding their whereabouts.
Source: Bits
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