• The Three Arrows Capital (3AC) hedge fund has launched a new project in collaboration with Coinflex, called Open Exchange (OPNX). This is the world’s first public marketplace for trading in crypto claims and derivatives.
• Despite the 3AC founders‘ attempts to rebuild trust after the project’s devastating collapse last year, many investors remain wary.
• The launch of this exchange project has been met with criticism from the crypto community.
3AC Hedge Fund Launches Open Exchange
The Three Arrows Capital (3AC) hedge fund has announced a new initiative in partnership with Coinflex, called Open Exchange (OPNX). This marks the world’s first public marketplace for trading in crypto claims and derivatives.
Attempts to Rebuild Trust After Collapse
Despite Zhu Su’s attempts to rebuild trust after 3AC suffered a devastating collapse last year, many investors remain wary of the project and its founders.
Open Exchange Details
The Open Exchange will provide an open market for trading in derivatives and cryptos verified through real-time public cryptographic audits. Users will be able to make deposits, withdrawals, trades, liquidations, and balances on the platform.
Criticism from Crypto Community
The launch of this exchange project supported by 3AC founders has sparked backlash from members of the crypto community who have expressed disappointment about this new effort.
It remains to be seen how successful Open Exchange will be given that it is backed by 3AC founders who were responsible for one of greatest cryptos falls ever experienced. Time will tell if they can restore the confidence of those investors who are still hesitant to invest again due to their past experience with Terra LUNA and 3AC.