DRW Denies Investing in OPNX, Distancing Itself From 3AC Founders’ Bankruptcy Claims Exchange

OPNX, the bankruptcy claims exchange founded by the same people who started failed crypto hedge fund Three Arrows Capital (3AC), finally identified its financial backers in a tweet Friday.

Not long after, three of those supposed «major investors» – trading firms Susquehanna International Group (SIG) and DRW, as well as venture-capital firm Nascent – denied what OPNX said.

OPNX was previously known as CoinFlex, a crypto exchange that’s restructuring in the Seychelles. In recent months 3AC founders Su Zhu and Kyle Davies partnered with CoinFlex – which has a token called FLEX – to get this new OPNX exchange going. DRW and Nascent had been investors in CoinFlex.

«DRW is not an investor in OPNX nor are any of its affiliates investors in OPNX,» a company spokesperson told CoinDesk.

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

«We have not provided any funding to OPNX and have no intentions to do so,» a SIG spokesperson told CoinDesk.

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