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International Business Times

Business

Marvie Basilan

Crypto Exchange OPNX To Shut Down As FTX Bankruptcy Claims Reach 'Recovery'

FTX Crypto Kyle Davies Su Zhu Three Arrows Capital 3AC Mark Lamb CoinDesk

Open Exchange (OPNX) said upon launch that it was the world's first crypto exchange for trading spot, futures and claims all on one platform. (Credit: YouTube Screenshot/ OPNX Official YouTube Chanel)

KEY POINTS

OPNX urged users to withdraw funds by Feb. 14
FTX's "recovery" means it's "the end" for crypto claims, Zhu said
Zhu and Davies' 3AC was ordered to liquidate in mid-2022

OPNX, the exchange that offers trading for bankruptcy claims, said it is shutting down this month after the bankruptcy process of failed crypto exchange FTX has reached the "recovery" stage.

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