3AC co-founder can answer subpoena or ‘take his chances’ — US judge

Kyle Davies, co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has been ordered to answer the subpoena issued to him in Januaryor risk being held in contempt of court. The Jan. 5 subpoena was issued to Davies via Twitter by a New York bankruptcy court, instructing Davies to provide 3AC’s liquidators with documents [...]

The post 3AC co-founder can answer subpoena or ‘take his chances’ — US judge appeared first on Crypto Breaking News.

View Details

OPNX Reveals Venture Capital Backers

OPNX, a new exchange allowing traders to buy and sell claims against bankrupt firms, has revealed its venture capital backers, including AppWorks, Susquehanna, DRW, MIAX Group, China Merchant Bank International, and Token Bay Capital. The exchange has faced criticism due to its association with the bankrupt 3AC hedge fund, but the company claims it will help make customers of failed crypto ventures whole again. (Read More)

View Details

Venture capital firms distance themselves from OPNX funding

At least two venture capital firms — Nascent and DRW — have distanced themselves from OPNX. Earlier today, OPNX revealed that its major investors included AppWorks, Susquehanna (SIG), DRW, MIAX Group, China Merchant Bank International, Token Bay Capital, Nascent, and Tuwaiq Limited. According to the exchange, its investors “contributed not just capital, but also incredible […]

The post Venture capital firms distance themselves from OPNX funding appeared first on CryptoSlate.

View Details

Three Arrows' OPNX Announces Shutdown

OPNX, a cryptocurrency exchange and bankruptcy claims platform, will cease operations by February 14, 2024, due to regulatory challenges and financial penalties. (Read More)

View Details

3AC co-founders’ OPNX exchange onboards FTX, Celsius bankruptcy claims

OPNX, an exchange dedicated to the trading of bankruptcy claims against fallen crypto firms, has listed FTX and Celsius claims. According to the July 14 announcement, FTX claims specifically can be immediately onboarded and converted into collateral in the form of OPNX’s native reborn OX (reOX) tokens or oUSD, its credit currency. Users can then [...]

The post 3AC co-founders’ OPNX exchange onboards FTX, Celsius bankruptcy claims appeared first on Crypto Breaking News.

View Details

OPNX quips about its early dismal volume after reporting 90,000% surge

OPNX exchange has joked about its earlier low trading volume before experiencing a big surge in volume during the last 24 hours.

View Details

3AC’s OPNX Acquiring Hodlnaut in Singapore Sets Off Backlash

The afflicted Hodlnaut’s acquisition by 3AC: a new business opportunity or an attempt to save face?

Continue reading at DailyCoin.

View Details

OPNX's 7-Day Trade Volume Average Hits $80 Million ATH, 69% of Minted $OX Staked

OPNX reports a 7-day trade volume average hitting an all-time high of $80M, with 69% of minted $OX locked in staking. (Read More)

View Details

Twitter Suspends OPNX Exchange Account, FLEX Plunges 13%

OPNX crypto exchange has nothing to flex about a day since launch.

Continue reading at DailyCoin.

View Details

OPNX launches ‘oUSD’ credit currency for crypto margin trading

The new “credit currency” will allow users to rely on cryptocurrencies as collateral without needing to obtain loans from other institutions.

View Details

3AC Founders Launch OPNX Crypto Exchange While on the Run

Zhu & Davies call the OPNX crypto platform “battle-tested”, presenting an uncanny solution for the $20bn crypto debt market.

Continue reading at DailyCoin.

View Details

Three Arrows Capital’s Recovery Plan Infuriates Liquidators

3AC co-founders deliver a 'shadow recovery plan' they came up with while chilling in Bali. Liquidators are not impressed.

Continue reading at DailyCoin.

View Details

Founders of 3AC to Donate OPNX Future Earnings to Creditors

The co-founders of the bankrupt crypto hedge fund Three Arrows Capital (3AC) have committed to donating a portion of the profits generated by their latest [...]

View Details

FLEX jumps 7% as 3AC cofounders OPNX exchange goes live

CoinFLEX’s FLEX token increased by more than 7% to $2.73 after Three Arrows Capital’s (3AC) cofounders — Kyle Davies and Su Zhu’s —  new Open Exchange (OPNX) went live earlier.

The post FLEX jumps 7% as 3AC cofounders OPNX exchange goes live appeared first on CryptoSlate.

View Details

Bankruptcy Claims Exchange OPNX Issues New Governance Token, FLEX Rises 16%

Bankruptcy claims exchange OPNX has issued a new governance token dubbed "Open Exchange token" (OX), which is designed to reduce trading fees on the platform.The platform's existing native token, FLEX, surged by 16% after it was revealed in the whitepaper that FLEX can be converted for OX at a ratio of 1:100.OX is an ERC-20

The post Bankruptcy Claims Exchange OPNX Issues New Governance Token, FLEX Rises 16% appeared first on BTC Ethereum Crypto Currency Blog.

View Details