The brand new chapter claims trade OPNX mistakenly claimed that it had acquired funding from 4 funding firms.
4 buying and selling corporations have denied that they made investments in OPNX, a successor to the failed cryptocurrency exchanges 3AC and CoinFLEX.
DRW, Nascent, MIAX, and SIG deny involvement
On April 21, OPNX thanked a number of traders for contributing funding to its trade platform, which went dwell on April 5, 2023.
Nevertheless, 4 of the businesses named in OPNX’s thanks message denied any involvement within the firm’s current fundraising efforts. The diversified buying and selling agency DRW distanced itself from OPNX by tweeting:
“DRW just isn’t an investor in OPNX nor are any of its associates traders in OPNX.”
Nascent equally denied investing within the agency, writing:
“Simply to make clear, Nascent didn’t take part in an OPNX fundraising spherical, we invested in FLEX tokens in early 2021.”
Elsewhere, the Wall Road Journal reported that buying and selling agency Susquehanna Worldwide Group (SIG) didn’t spend money on OPNX and has “no intentions” of doing so. The choices buying and selling firm MIAX reportedly denied investing within the new firm as effectively.
OPNX later clarified that these firms had beforehand invested in CoinFLEX, a beforehand unbiased firm that’s being merged into OPNX.
OPNX has attracted controversy
OPNX is controversial on account of the truth that its management is drawn from two crypto corporations that failed in dramatic methods throughout final 12 months’s crypto liquidity disaster.
The founders of Three Arrows Capital (3AC), Su Zhu and Kyle Davies, are closely concerned in OPNX alongside members of CoinFLEX.
3AC halted withdrawals and filed for chapter round July 2022. Quickly after the agency’s collapse, Zhu and Davies went lacking as they supposedly fled Singapore — the nation through which 3AC was based mostly. 3AC owes roughly $3.5 billion to its collectors.
CoinFLEX, in the meantime, halted withdrawals in June 2022 and filed for chapter in August 2022. It’s now locked in a battle with Bitcoin Money advocate Roger Ver, who is claimed to owe the agency as a lot as $84 million. CoinFLEX partially reopened withdrawals in 2022, however it’s unclear how a lot it now owes its clients.
3AC and CoinFLEX have been amongst a number of firms that froze consumer accounts final summer season earlier than submitting for chapter. The truth is, OPNX is designed to permit customers to commerce chapter claims in addition to customary crypto property and derivatives.
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