3AC founders launch crypto exchange OPNX and announce FLEX token airdrop

The OPNX team, founded by the co-founders the bankrupt hedge fund 3AC Su Zhu and Kyle Davies, announced the platform’s official launch.

We are thrilled to announce that https://t.co/Q2HsUqSZ7E is now live! Sign up to trade spot and futures immediately. Claims trading coming very soon

A message from our CEO Leslie: pic.twitter.com/VVVX00AzHf

— OPNX ? (@OPNX_Official) April 4, 2023

According to The Block, the company also announced a native FLEX token airdrop as a sign of appreciation to community members.

“Many of you may know that OPNX will use FLEX as the native token of the ecosystem. As a token of our appreciation, we have included eligible users from the waitlist in our token distribution, i.e., no action on your part is required”, the statement said.

FLEX has a market capitalization of $269 million and a daily trading volume of $1.27 million. In the wake of the platform’s launch, the asset’s price rose by 7.48%. At the time of writing, the coin was trading at $2.75.

In addition to traditional exchange operations, OPNX offers the ability to trade claims against bankrupt crypto companies such as FTX.

OPNX’s CEO is Leslie Lamb, the wife of former CoinFLEX chief executive the bankrupt CoinFLEX Mark Lamb.

In January 2023, media reported plans by Davies and Zhu to raise $25 million for the launch of the cryptocurrency exchange with active participation by CoinFLEX representatives.

In February, former BitMEX CEO Arthur Hayes pointed to the possible realization of such an initiative.

Later, Zhu announced the opening of a waitlist for platform access.

He noted that OPNX is a means to “make amends for past mistakes.” The community welcomed the project with scepticism and outrage.

Earlier, liquidators put up for sale the NFT collection of 3AC.