OPNX token jumps 60% amid reports of Su Zhu’s release

The native token of the OPNX trading platform—Open Exchange (OX)—jumped 60% after the alleged release of co-founder Su Zhu.

During the night of December 1, the asset surged from $0.015 to $0.024, before retreating to $0.018.

The rise began when Su Zhu posted his first message on X after nearly two months of silence.

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— Su Zhu ? (@zhusu) December 1, 2023

On September 29, a co-founder of OPNX was detained in Singapore as he attempted to depart the country. The company said that he was sentenced to four months in prison for contempt of court.

Zhu apparently managed to win early release. This could have happened as early as November 29, when the wallet suzhu.eth began showing activity.

OPNX is a platform that allows trading creditors’ claims against failed crypto firms.

Su Zhu and his partner Kyle Davis founded the exchange in April after the collapse of hedge fund Three Arrows Capital (3AC), which they led.

The co-founders of OPNX promised to donate potential earnings from the new platform to 3AC creditors for \”good karma\”.

In May, the exchange received a reprimand from the Dubai regulator for operating without a license.