65
The "major investors" in OPNX, a new exchange for trading bankruptcy claims founded by the people behind failed crypto hedge fund Three Arrows Capital (3AC), include high-profile firms including Susquehanna International Group (SIG) and DRW, the company tweeted Friday.
Other backers include Taiwanese venture-capital firm AppWorks, U.S. options exchange MIAX Group, the Hong Kong arm of China Merchant Bank International and Saudi digital asset fund Tuwaiq.
1/ As we approach the launch of claims for our first estate, Celsius, we'd like to express gratitude to everyone who believed in our mission of helping 20M+ claimants.
A special thank you goes to our major investors, including AppWorks, Susquehanna (SIG), DRW, MIAX Group, China pic.twitter.com/G406Y7Ponz
— OPNX ?? (@OPNX_Official) April 21, 2023
OPNX co-founder Kyle Davies, who also started the now-bankrupt 3AC, remained tight-lipped on the company's backers when he spoke recently to CoinDesk.
The exchange got off to a slow start, executing a paltry figure of volume on its first day after going live. Since then, OPNX topped $2 million in daily volume earlier this month, according to flexstatistics.
Read more: Bankruptcy Claims Exchange OPNX Stumbles Out of the Gate
The reputable list of investors demonstrates demand from traditional finance for crypto startups.
Recommended for you:
- Paxos Ordered by US Officials to Freeze $19M in Crypto Tied to FTX
- Former NBA Player Baron Davis Says Celebs Will Focus More on 'Utility' Tokens
- Why Nigerians Aren't Turning to the eNaira Despite Crippling Cash Shortages
- Join the Most Important Conversation in Crypto and Web3 in Austin, Texas April 26-28
Davies was given two weeks on March 30 to respond to a subpoena in relation to books and records for 3AC, according to a ruling in U.S. bankruptcy court.
Read more: OPNX Exchange, Which Offers FTX Claims Trading, Led by Three Arrows Founders, Is Now Live
Edited by Nick Baker.
