Three Arrows Capital co-founders’ OPNX exchange is shutting down
OPNX, the crypto bankruptcy claims and trading platform established by the co-founders of the collapsed hedge fund Three Arrows Capital (3AC), is set to cease operations and shut down by February 14, marking the end of its tumultuous journey. Su Zhu and Kyle Davies, the co-founders, had launched OPNX following the demise of their $10 billion Singapore-based crypto hedge fund in June 2022. In an email addressed to users, OPNX strongly advised settling all positions by February 7 and withdrawing funds by February 14, after which all withdrawal functionalities would be disabled. The closure of OPNX adds another layer to the challenges faced by Zhu and Davies, who had disappeared shortly after their hedge fund's collapse, prompting Teneo, responsible for liquidating 3AC's assets, to subpoena them due to their concealed physical whereabouts.