FLEX

April

Terra

Davies

After the spectacular collapse of Three Arrows Capital (3AC), its founders, Su Zhu and Kyle Davies&rsquo; new crypto venture, OPNX, officially went live. 
Su Zhu and Kyle Davies&rsquo; new cryptocurrency exchange OPNX is trading and open for business. OPNX announced on Twitter today the platform&rsquo;s launch and a giveaway of its native token FLEX as a &ldquo;token of our appreciation.&rdquo;

We are thrilled to announce that https://t.co/Q2HsUqSZ7E is now live! Sign up to trade spot and futures immediately. Claims trading coming very soonA message from our CEO Leslie: pic.twitter.com/VVVX00AzHf
&mdash; OPNX 💪 (@OPNX_Official) April 4, 2023



The firm said:

Many of you may know that FLEX will power OPNX as the native ecosystem token. As a token of our appreciation, we have included eligible waitlisted users in our FLEX coin giveaway (i.e. no action is needed from your side).

The idea for a new exchange was initially pitched by Zhu and Davies in January. CoinFlex co-founder Mark Lamb and Sudhu Arumugam joined the duo. The exchange came to be after OPNX raised $25 million from investors.
OPNX eventually came to fruition after Davies and Zhu joined Mark Lamb to launch the venture through a rebranding of CoinFlex. A court in Seychelles approved the firm&rsquo;s restructuring in March, and CoinFlex rebranded to OPNX.
3AC was one of the crypto companies most severely affected in the 2022 crypto winter. The exchange&rsquo;s founders admitted that the crisis and collapse of the Terra ecosystem, along with Bitcoin&rsquo;s price drop below $20,000, eventually led to the demise of the hedge fund. Both Davies and Zhu have been blamed for the massive investor losses.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.&nbsp;

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