Three Arrows Capital Founders Launch Crypto Claims Trading Platform

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 announced the creation of a new Open Exchange (OPNX) cryptocurrency exchange. 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 aims to offer users a platform to trade their debts or use them as margin collateral.. OPNX plans to support its own tokenomics, in which $FLEX will be used 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.