OPNX CEO criticises investors who have distanced themselves from the platform

A number of alleged investors in the cryptocurrency exchange OPNX, founded by the co-founders of the bankrupt hedge fund 3AC Su Zhu and Kyle Davies, were criticised by the platform’s chief, Leslie Lamb.

I’ve gotten all but 4 hours of sleep dealing with the nonsense that has ensued from transparent communications, so I’ll get straight to it.

Investors want all the upside with little to no risk. But I’m here to remind everyone that’s not how entrepreneurship works, if it isn’t…

— Leslie Lamb (@therealleslamb0) April 22, 2023

«To all of the above and to our investors who fought hard for capital but refuse to support the company in any way — that is as disgusting as it is disappointing», she wrote.

The list of venture firms that stated as being involved with OPNX includes AppWorks, Susquehanna, DRW, MIAX Group, China Merchant Bank International, and Token Bay Capital Nascent and Tuwaiq Limited.

More than half of them say they never invested in the exchange on behalf of the 3AC co-founders.

The DeFi project Nascent was the first to deny any link to the platform. Company representatives clarified that they only invested in FLEX tokens in 2021.

Just to clarify, Nascent did not participate in an OPNX fundraising round, we invested in FLEX tokens in early 2021.

— Nascent (@nascentxyz) April 21, 2023

Taiwanese venture firm AppWorks explained that its investments in CoinFLEX were “forcibly converted” into OPNX.

We are backers of CoinFlex and were supportive of Mark to rebuild for stakeholders. Our equity is being forcibly converted to OPNX and we have not committed capital to the new entity. We never met Su Zhu or Kyle Davies and do not support what they did during the last days of 3AC

— AppWorks (@AppWorks) April 22, 2023

«We never met Su Zhu or Kyle Davies and do not support what they did in the last days of 3AC», the statement said.

DRW directly stated on Twitter that it is not an investor in OPNX.

DRW is not an investor in OPNX nor are any of its affiliates investors in OPNX.

— DRW (@DRWTrading) April 21, 2023

Plans by Davies and Zhu to raise $25 million for the launch of the crypto exchange with active involvement from representatives of the bankrupt CoinFLEX became public in January.

Later, Zhu announced the opening of a waitlist for platform access. He said OPNX is a way to “atone for past mistakes.” Many in the community greeted the project with skepticism and outrage.

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

In April, the team behind the exchange announced the official launch and teased the FLEX token airdrop.