New Trade OPNX Twitter Record Erased After 24h Volume Came to $13.64
Key Points:
- The new OPNX exchange launched by the founders of the failed crypto hedge fund 3AC had a daily trading volume of $13.64 at the end of its first day.
- Su Zhu posted a link to the Chinese Telegram group and stated that OPNX’s official Twitter account had been disabled.
The Twitter account of the OPNX exchange, founded by the founders of the failed 3AC crypto hedge fund, was deleted shortly after its first day of opening.
On April 5, the brand-new OPNX Exchange went live, as was mentioned in the previous post’s update. This trade is intended to exchange liquidation cases of crypto-establishments decline, for example, their bankrupt mutual funds. It is unclear how bankruptcy declarations could be traded on a public exchange without the prior approval of bankruptcy trustees or the court due to their highly personal and private nature.
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As indicated by the most recent insolvency rebuilding plan, CoinFLEX and FLEX tokens have been moved to OPNX. The “3AC brothers” exchange officially opened on April 4 and distributed tokens to users.
Davies and Su, on the other hand, decided to carry on with the concept. The total trading volume on OPNX over the previous 24 hours was reported to have been $1.26 on the first trading day. OPNX quickly condemned the report, explaining that the exchange’s 24-hour trading volume was $13.64, or 982 percent more than regulated. Su Zhu claimed the following day that the exchange had helped facilitate $373 in trading.
On the other hand, on April 6 at 3:00 p.m., Su Zhu stated that the US government had taken down OPNX’s official Twitter account and attached a link to the Chinese Telegram group. He did not, however, specify the exact cause.
Because the new project’s purpose was erroneous from the start, the community frequently voiced their disapproval and ridicule for it. While creditors continue to seek approximately $3.5 billion from their failed hedge fund, the founders of 3AC are working on their latest endeavor.
