OPNX to Shut Down Amid FTX Estate Recovery

The crypto exchange, founded by Three Arrows Capital's Su Zhu and Kyle Davies, faces closure as FTX begins repaying customers.

OPNX, founded by Su Zhu and Kyle Davies of the defunct Three Arrows Capital, is shutting down due to the FTX estate reaching 'recovery'.
The exchange was designed for trading bankruptcy claims, particularly in the aftermath of the cryptocurrency crash.
FTX plans to fully repay its customers using market prices from just after the crash, marking the end of crypto claims estates.
OPNX struggled with market foothold and legal challenges, including a lawsuit in Hong Kong against CEO Mark Lamb.
The platform advises users to settle positions by Feb. 7 and withdraw funds by Feb. 14, as it ceases operations.