Three Arrows co-founders’ OPNX exchange is shutting down

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Crypto bankruptcy claims platform OPNX — launched by the co-founders of failed hedge fund Three Arrows Capital — has announced that it will officially cease all operations and shut down by Feb. 14. 

In an email to users of the exchange, viewed by Cointelegraph, OPNX “strongly advised” its users to settle all positions by Feb. 7 and withdraw their funds from the platform by Feb. 14. Following this date, all withdrawl functionality will be disabled. 

“We would like to inform you that OPNX.com will officially cease operations and shut down in February 2024.”

OPNX says withdrawal functionality will be disabled for all users on Feb. 14. Source: OPNX

OPNX, short for Open Exchange, is a hybrid bankruptcy claims platform and crypto exchange that allows users to trade creditor claims of bankrupt crypto companies.

Su Zhu and Kyle Davies founded the exchange following the bankruptcy of their $10 billion Singapore-based crypto hedge fund Three Arrows Capital (3AC) — which folded in June 2022.

This is a developing story, and further information will be added as it becomes available.