OPNX Raises Millions From Appworks, MIAX, SIG and More

24. April 2023   |   by admin

• OPNX, a crypto bankruptcy claims exchange firm co-founded Kyle Davies, has been backed by Appworks, DRW, MIAX Group and Susquehanna International Group (SIG).
• The backers have contributed capital and feedback on OPNX’s products, legal frameworks and decision to move to Hong Kong.
• The platform was created in partnership with CoinFLEX earlier in February with the mission of helping over 20 million claimants of money lost in bankrupt crypto businesses such as Celsius Network, FTX, BlockFi and 3AC.

OPNX Receives Backing from Appworks, DRW & More

OPNX, a crypto bankruptcy claims exchange firm co-founded Kyle Davies has received backing from distinguished firms including Appworks, DRW, MIAX Group and Susquehanna International Group (SIG). OPNX tweeted the announcement with CEO Leslie Lamb expressing gratitude for everyone who has supported and believed in them. Investors include institutions that have come in through CoinFLEX and direct OPNX investors.

The Backers

The backers have contributed capital and feedback on OPNX’s products, legal frameworks and the decision to move to Hong Kong. Many of which are from the greater China region.

Launching OPNX

This comes only shortly after OPNX went live on April 4 following its creation in partnership with CoinFLEx earlier in February. It has the mission of helping over 20 million claimants of money lost in bankrupt crypto businesses such as Celsius Network ,FTX ,BlockFi ,and 3AC which Zhu Su & Kyle Davies founded .

The Fall Of 3AC

Zhu Su & Kyle Davies started Three Arrows Capital (3AC)in 2012 . The Singapore based hedge fund managed up to $18 billion worth of cryptocurrency assets at its peak . However it fell due to collapse of LUNA & its stablecoin project TerraUSD (UST) . This eventually led to 3AC filing for bankruptcy in July 2022 following court ruling for company’s assets liquidation .

Conclusion

Despite an initial slow start for the platform ,which has experienced relatively limited trading activity since launch ,OPNX now has significantly better prospects with backing from many high profile investors