3AC Co-founders' Claim Exchange OPNX Closes $25M Fundraising

DeFi researcher Ignas said on Twitter that Kyle Davies, co-founder of Three Arrows Capital (3AC), reached out to him to explain things about OPNX, a marketplace for crypto claims. The exchange has closed its planned $25m fundraising.

Launched by 3AC's co-founders Kyle Davies and Zhu Su, OPNX aims to tokenize users' claims to bankrupted crypto companies, allowing them to use bankruptcy claims as collateral to trade perpetuals. The exchange doesn't provide lending services for crypto assets. Kyle Davies said the fundraising deal was done, but he didn't disclose the investors. In addition, OPNX will acquire all assets of CoinFLEX including people, tech, and tokens. $FLEX will be the exchange token.

In terms of 3AC, Kyle Davies said that they are likely to sue Genesis and Grayscale.

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