Zhu Su’s OPNX exchange collapsed! Governance token OX flash crashed 38%

Cryptocurrency hedge fund Three Arrow Capital (3AC) declared bankruptcy in 2022, although the fund once reached $10 billion. Its founders Kyle Davies and Zhu Su co-launched the cryptocurrency debt exchange Open Exchange (OPNX) in April last year and issued a new governance token $OX in June.

Zhu Su once hoped that through the comeback of Open Exchange, it would open up a new field where users can liquidate debt tokens in advance. However, surprisingly, in an email sent to exchange users today, Open Exchange (OPNX) announced that it would temporarily cease operations. The news casts doubt on the future of the platform.

"We would like to inform you that OPNX.com will officially cease operations and close in February 2024."

OPNX Exchange’s email to users

"Strongly recommended" users withdraw funds before February 14

According to the content of the email, OPNX cryptocurrency exchange issued a warning to users, strongly recommending users to liquidate their funds on the platform before February 7 All trade positions and withdraw funds before February 14th. The notice pointed out that withdrawal operations will no longer be possible after the expiration date.

OPNX has actually kept its headquarters secret, but according to government records, the exchange registered an office in Hong Kong’s central business district last May and listed someone named Rum as a director. .

Interestingly, ZhuSu, the co-founder of Three Arrows Capital (3AC), was arrested at Changi Airport in Singapore in late September last year and sentenced to 4 months in prison. He was subsequently moved forward due to his good behavior in prison. Released in December.

After being released from prison, Zhu Su recently expressed generously on a podcast that life in prison is very easy to sleep and has a regular life. "Overall, it is a very pleasant experience." However, will Zhu Su be affected by Open Exchange (OPNX)? ) may be extended to jail again, which is worth watching.

$OX plummeted 38%

Affected by this news, the governance token $OX of Open Exchange (OPNX) fell by 20% in 24 hours, with the maximum drop reaching 38% at the time of writing. $0.0083.

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