Cryptocurrency

3AC co-founders launch marketplace to trade crypto claims

Zhu Su and Kyle Davis, founders of bankrupt crypto hedge fund Three Arrows Capital, team up with co-founders of Coinflex to create “first public marketplace for crypto claims” Launched an open exchange.

According to a February 9 Twitter thread, Open Exchange (OPNX) Said There is a “$20 billion claimant market” desperate for a market to monetize claims against bankrupt cryptocurrency companies such as FTX, Voyager, Celsius, Genesis, BlockFi, Mt Gox, HodlNaut, 3AC and others.

The new centralized exchange will build a centralized exchange with “real-time public cryptographic audits of leverage in the system, i.e. collateral backing open interest,” he added.

“Our goal is to combine the transparency and trust of DeFi with the performance and UX of CEX.”

OPNX said its native token will be CoinFLEX’s FLEX. The token will act as a fee-paying token for the exchange and maintain the current tokennomics.

Juso backed up Exchange statement in another Twitter thread. He added that the exchange will implement all the knowledge of the previous year into the new business.

CryptoSlate previously reported that the 3AC founder asked for $25 million to launch a new crypto exchange called GTX.

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