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

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.

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.

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.

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