Three Arrows Capital Founders Shake Up Crypto Industry with New Crypto Exchange After Acquiring CoinFLEX Assets – Here's What You Need to Know

[{"selector":"#anim-d9ffeace-4e84-410d-a69b-6e133df48246 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-7.835937244150102%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Su Zhu and Kyle Davies, the two founders of the bankrupt crypto hedge fund Three Arrows Capital (3AC), have completed a funding round for their new OPNX exchange and will acquire the remaining assets of the troubled exchange CoinFLEX. Learn more

[{"selector":"#anim-a6459b2a-35b3-4f2d-bb30-61f24950482b","keyframes":{"transform":["translate3d(120.13652%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-18343bce-7ac4-47c0-ab0f-231315fa7b04","keyframes":{"transform":["rotateZ(180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] [{"selector":"#anim-1ea5719a-34c3-4773-ba36-2678258cce69 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-13.490250047657653%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The news that fundraising for the new exchange has been completed was shared in a Twitter thread by a popular community member and DeFi researcher Ignas, who said Kyle Davies had reached out to him and confirmed the news.

In his Twitter thread, Ignas also confirmed that OPNX – or Open Exchange – will acquire all of CoinFLEX’s assets, and that this includes “people, tech, and tokens.

[{"selector":"#anim-d66dd5fd-527c-42f0-8ef6-4e5f8b6b911c","keyframes":{"transform":["translate3d(-120.47782%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-01f0153d-d9ac-43a9-bcc0-9737a617e461","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}]

According to Ignas, FLEX will be used to pay fees on the platform, similar to how BNB is used to pay fees on Binance, and 20% of the revenue generated will be used to buy and burn FLEX tokens.

[{"selector":"#anim-e88f7957-216f-4c17-a07f-fec7d597b9e1","keyframes":{"transform":["translate3d(120.13652%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-67aabaca-21ad-4ad8-9aec-5e6b03533816","keyframes":{"transform":["rotateZ(180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}]

Before investing in cryptocurrency or indulging in any crypto affair, contact a cryptocurrency development company beforehand!

[{"selector":"#anim-36df19cc-6386-4c97-8b85-a98d4939e079","keyframes":{"transform":["translate3d(119.20001%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-119a7bdd-dcd7-423e-90a0-c97b1d6bfc30","keyframes":{"transform":["rotateZ(180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] Contact us