OPNX Has Huge Investors Like Susquehanna, DRW

Key Points:

• Controversial cryptocurrency exchange OPNX, founded by the co-founders of three arrow capital (3AC), has unveiled an investor lineup.
• AppWorks, Susquehanna (SIG), DRW, MIAX Group, China Merchant Bank International, Token Bay Capital, Nascent, and Tuwaiq Limited, were among the investors listed by OPNX.
• Previously, the trading volume in the early days of the exchange was quite dismal.

High-profile corporations such as Susquehanna International Group (SIG) and DRW are among the primary investors in OPNX, a new exchange for trading bankruptcy claims launched by the guys behind defunct crypto hedge fund Three Arrows Capital (3AC).

Additional investors include Taiwanese venture capital company AppWorks, US options exchange MIAX Group, China Merchant Bank International’s Hong Kong affiliate, and Saudi digital asset fund Tuwaiq.

Three Arrows Capital, a once-famous Singaporean hedge fund worth an estimated $10 billion at its height, was completely wiped out by the bear market last year. Nonetheless, the carnival it has developed since the first explosion continues to exist, and its principal characters seem to be doing well as well.

Kyle Davies, the co-founder of OPNX and the now-defunct 3AC, seems to have taken some consolation in his cooking experience. After considerable upheaval, the former hedge fund manager is now an ambitious restauranteur focused on one goal: refining the art of cooking chicken.

Su Zhu said on April 6 that the US authorities had suspended OPNX’s official Twitter account and attached a link to the Chinese Telegram group. He did not, however, explain the precise reason.

While daily traffic was originally just approximately $13, by the time this article was published, the exchange had reached almost $1.8 million in daily trading volume. According to flexstatistics, OPNX’s daily volume surpassed $2 million earlier this month.

It’s not easy to disappoint the audience, yet these figures are rather amazing. Consider that the total amount of all regulated crypto goods listed in Hong Kong is just approximately $1.19 million every day.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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