Three Arrows Capital Co-Founder Announces New Crypto Venture Open Exchange Amid Bankruptcy Dispute
Su Zhu, co-founder of defunct crypto hedge fund Three Arrows Capital (3AC), said on Thursday that June-July 2022 was “total darkness” for his partner Kyle Davis. He tweeted that “It was a dark period and we weren’t perfect about how to handle the fallout but we were determined to do all we could or were capable of doing”. He also emphasized that words and fairy endings can only go so far and wanted to make the two something that could ever take the pain and lesson and use it to propel crypto forward.
It is with humility as we assert that the waiting list is still open and Site User Interface / UX beta testing is coming very soon [on opnx.com]. In mid-January 2023, Zhu and Davis were reported to have started a new venture with two Coinflex exchange executives, and the exchange plans to allow traders to trade bankruptcy claims from a defunct crypto platform and hold them as portfolio margin. provides permission. Currently the exchange is not operational, and is also on the waiting list. Zhu further added that “FLEX will be the primary token of the new exchange.”
The website displays the 73 Arrows Capital logo along with the logos of failed platforms such as Genesis, Celsius, FTX, BlockFi, Voyager, HodlNotch, Mt Gox, Vold and Zipmex. The website’s manifesto states that the $20 billion market of claimants is desperately seeking a solution and their announcement was not well received on social media as some members of the crypto community expressed disgust and outrage. Magdalena Gronowska agreed with this and said that you have lost all rights to work in this industry. He said, “Instead of starting the latest scam you should focus on talking with your lawyers” and Zhu’s tweet was answered by Nick Carter, “Shut the hell up loser”.
