OPNX Unhappy With The Investors
Open Exchange, the crypto exchange founded by the disgraced founders of 3AC, is embroiled in a contentious dispute with its purported investors. Su Zhu and Kyle Davies’ OPNX has openly chastised its alleged investors for claiming they never backed the crypto platform and denying any association with it.
The controversy began last night, when OPNX released a list of its purported investors. AppWorks, SIG, DRW, MIAX Group, Merchant Bank International, Token Bay Capital, Nascent, and Tuwaiq Limited were among the venture capital and trading firms on the list. Since then, nearly half of the listed investors have claimed that they never funded OPNX and have denied any involvement with the exchange.
AppWorks announced on Twitter earlier today that it is a supporter of CoinFlex, a crypto platform that launched Open Exchange with 3AC’s Zhu and Davies. Other investors on OPNX’s list publicly stated that, contrary to what the crypto platform claimed, they had not participated in or backed it in any way.
The public humiliation of several of its alleged investors who denied association prompted OPNX to issue a rather controversial statement in which it accused the investors of using “ugly” tactics to gain financial gain while denying association due to fear of social media backlash.
(With inputs from Shikha Singh)
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