Categories: FintTechMenafn

3AC Founders Launch New Exchange For Crypto Claims Trading

  • 3AC founders Su Zhu and Kyle Davies are launching a new crypto exchange in partnership with Coinflex.
  • Open Exchange (OPNX) will allow users to trade their claims against bankrupt crypto firms like Celsius, FTX, and 3AC.
  • The new exchange aims to tap into the $20 billion crypto claims market.
  • Coinflex’s native token $FLEX will be the primary token of OPNX.

In a rather bold move, Three Arrows Capital (3AC) founders Su Zhu and Kyle Davies are launching a new crypto exchange that will allow users to trade claims against bankrupt crypto firms like Celsius, FTX, Voyager, and their very own 3AC. The founders of the defunct crypto hedge fund have teamed up with Mark Lamb, the CEO of the crypto exchange CoinFLEX. 

3AC founders aiming to tap into the $20 billion crypto claims market

The new exchange will be called Open Exchange (OPNX). According to its official website, the crypto claims market is worth $20 billion. OPNX seeks to fill the gap by offering users a platform to trade their claims or use them as margin collateral. OPNX has marketed itself as “the world’s first public marketplace for crypto claims trading and derivatives.”

Open Exchange has opened the claims waitlist and is currently accepting early users for its upcoming beta testing. OPNX will use Coinflex’s native token $FLEX, as its primary token. The exchange assured users that the tokenomics of the token will remain the same with a 20% revenue burn model and trading fee discounts for holders. FLEX’S price has tanked more than 30% since the announcement of OPNX. 

Su Zhu claimed in a lengthy Twitter thread that his creditors believed launching this exchange was “the wisest way to use our existing resources.” According to the 3AC founder, OPNX will mix the best of DeFi and CeFi to bring radical transparency and unlock trapped claims. Users on Twitter were not too thrilled about Zhu’s plans to step foot in the crypto space again. 

Ryan Helton

A Stock enthusiast since childhood, Ryan is known for his impeccable knowledge in the technology and gadgets niche. He has been working with eTrendy Stock as a contributor for most stock category and his articles are always well-researched and accurate.

Recent Posts

Mubite Officially Launches as a Global Leader in Crypto Prop Trading

Prague, Czech Republic, October 6, 2025, ZEX PR WIRE— The future of funded crypto trading…

1 day ago

CZ Effect: Binance Lists Aster (ASTER) With Seed Tag After Weeks Of Hype

Aster’s native token, ASTER, has ridden a powerful endorsement cycle after Changpeng “CZ” Zhao publicly…

1 day ago

Verto Establishes DIFC Hub to Enable Faster, Smarter B2B Payments Across Africa and Emerging Markets

UAE now has a payment partner that unlocks Africa’s growing economic opportunity DUBAI, UAE, 6…

2 days ago

Guinness World Records Attempt in Forex Industry is announced

Dubai, UAE, 5th October, 2025, ZEX PR WIRE, Forex Expo Dubai, the Middle East’s largest…

2 days ago

Reliable Airport Taxi Service: Guaranteed Pickups, No Delays

London, England, 5th October 2025, ZEX PR WIRE, In today’s travel landscape, reliability has become…

2 days ago

Forex Expo Dubai 2025 Conference to Feature 150+ Global FX and Fintech Leaders

Part of the region’s largest forex and fintech gathering, the two-day conference on 6–7 October…

4 days ago