OPNX (Open Exchange), a Singapore-based cryptocurrency exchange established by the co-founders of the failed crypto hedge fund Three Arrows Capital (3AC), is set to cease operations less than a year after its inception.
OPNX To Shut Down Amidst Legal Issues
OPNX was launched by Zhu Su and Kyle Davies, along with co-founders Mark Lamb and Leslie Lamb, to make a comeback following the collapse of Three Arrows Capital and the infamous fall of Sam Bankman-Fried’s crypto exchange FTX.
Mark and Leslie Lamb are also known for their involvement in CoinFlex, a digital asset exchange filed for restructuring in the Seychelles in August 2022. OPNX aimed to enable creditors of insolvent exchanges, such as FTX, to tokenize their claims and use them as collateral.
Zhu Su and Kyle Davies, schoolmates, university friends, and former Credit Suisse traders, founded Three Arrows Capital in 2012. However, the firm became the first major crypto company to go bankrupt in 2022, losing billions of inves
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