The founders of 3AC launched a new exchange and distribute tokens

The OPNX cryptocurrency exchange, founded by the co-founders of bankrupt 3AC hedge fund Su Zhu and Kyle Davis, has announced the official launch of the platform.

According to The Block, the company also announced the distribution of the native FLEX token as a “token of appreciation” among members of the community.

“Many of you may be aware that OPNX will use FLEX as the ecosystem’s native token. As a token of our appreciation, we have included eligible users from the waiting list in our coin giveaway, meaning no action is required on your part,” the statement reads.

The market capitalization of FLEX is $269 million, and the daily trading volume is $1.27 million. Against the backdrop of the news about the launch of the platform, the asset price increased by 7.48%. At the time of writing, the coin is trading at $2.75.

In addition to traditional exchange operations, OPNX offers the opportunity to trade claims on bankrupt crypto companies like FTX.

Leslie Lamb, wife of former CoinFLEX CEO Mark Lamb, has become CEO of OPNX.

In January 2023, the media reported on the plans of Davis and Zhu to raise $25 million to launch a cryptocurrency exchange with the active participation of CoinFLEX representatives.

In February, former BitMEX CEO Arthur Hayes pointed to the possibility of a similar initiative.

Later, Zhu announced the opening of a waiting list for admission to the platform.

He noted that OPNX is a way “to atone for your past mistakes.” Many community members met the project with skepticism and indignation.