Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
Home»BLOCKCHAIN NEWS»Three Arrows’ OPNX Announces Closure
BLOCKCHAIN NEWS

Three Arrows’ OPNX Announces Closure

By Crypto FlexsFebruary 3, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Three Arrows’ OPNX Announces Closure
Share
Facebook Twitter LinkedIn Pinterest Email

OPNX, a cryptocurrency exchange and bankruptcy claims platform, will cease operations until February 14, 2024 due to regulatory concerns and financial penalties.

OPNX, cryptocurrency exchange The insolvency claims platform co-founded by the individuals behind bankrupt hedge fund Three Arrows Capital (3AC) has announced that it will cease operations and close by February 14, 2024. The announcement came after the platform advised users to come to terms with their positions. You must ensure that all funds are withdrawn by February 14th by February 7th, after which withdrawals will be disabled. This decision marks the end of OPNX’s operations to facilitate trading of creditor claims from bankrupt cryptocurrency companies.​​​​​​​

A week before the announcement, Su Zhu, co-founder of collapsed Three Arrows Capital, said he would continue to promote it. exchange OPNX in Hong Kong, according to SCMP. OPNX registered an office in Hong Kong’s central business district in May last year, and former Coinplex CEO Mark Lamb was listed as a director. Hong Kong’s new virtual asset regulation rules come into effect from June 2023. As a financial center, Hong Kong now welcomes regulated cryptocurrency exchanges.

OPNX’s closure was rooted in a series of regulatory issues and financial penalties, which had a significant impact on OPNX’s ability to operate and its financial stability. Despite efforts to resolve these issues, including securing a Virtual Asset Service Provider (VASP) license in Lithuania, OPNX suffered setbacks as its association with controversial figures and heavy penalties from regulators placed it under a significant financial burden. faced. In particular, the platform’s relationship with Three Arrows Capital co-founders Su Zhu and Kyle Davies has cast a shadow over its operations, leading to increased scrutiny and a complex regulatory environment.

The platform’s user base is advised to adhere to published deadlines for position settlement and fund withdrawal to avoid potential losses. This structured closure process emphasizes OPNX’s commitment to ensuring a safe and orderly exit for users during a shutdown. The demise of OPNX highlights the volatile nature of the cryptocurrency market and the importance of regulatory compliance and operational transparency for platforms operating in this space.​​

For the broader cryptocurrency industry, the closure of OPNX is a heartbreaking reminder of the complex challenges and regulatory pressures platforms can face. This also highlights the need for strong structures to support the growth and sustainability of the digital financial ecosystem.

Image source: Shutterstock

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Investors surpass 640,000 BTC when looking at Bitcoin Holdings with $ 22 million purchases.

September 30, 2025

Hyperliquid launches USDH Stablecoin issued by Native Markets

September 25, 2025

The new gold protocol of the BNB chain is due to the $ 2 million launch day nucleus.

September 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Jiuzi Holdings, Inc. Announces Phased Rollout Of $1 Billion Cryptocurrency Acquisition Plan; First Bitcoin Purchase To Be Completed Within Two Weeks

October 8, 2025

Rome Launches Its Genesis NFT Collection “Imperia” On Magic Eden Launchpad

October 8, 2025

BNB price is less than $1,300 on Meme Season Buzz

October 8, 2025

Cryptocurrency trader, OTC fraud claims $ 1.4 million losses, guessing due to KUCOIN deposits

October 7, 2025

Meanwhile, Bitcoin Life Insurer, Secures $82M To Meet Soaring Demand For Inflation-Proof Savings

October 7, 2025

Pepeto Presale Exceeds $6.93 Million; Staking And Exchange Demo Released

October 7, 2025

Eightco Holdings Inc. ($ORBS) Digital Asset Treasury Launches “Chairman’s Message” Video Series

October 7, 2025

Zeta Network Group Enters Strategic Partnership With SOLV Foundation To Advance Bitcoin-Centric Finance

October 7, 2025

Saylor tells MRBAST to buy Bitcoin even after pause the BTC purchase.

October 7, 2025

Bitcoin Steadies at Rally -Is another powerful brake out just in the future?

October 6, 2025

BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.83 Million Tokens And Total Crypto And Cash Holdings Of $13.4 Billion

October 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Jiuzi Holdings, Inc. Announces Phased Rollout Of $1 Billion Cryptocurrency Acquisition Plan; First Bitcoin Purchase To Be Completed Within Two Weeks

October 8, 2025

Rome Launches Its Genesis NFT Collection “Imperia” On Magic Eden Launchpad

October 8, 2025

BNB price is less than $1,300 on Meme Season Buzz

October 8, 2025
Most Popular

Cryptocurrencies to watch this week: ETH, BOME, HNT

May 12, 2024

Dogecoin’s three-year channel breakout suggests a 500% rally is possible in 2025.

October 31, 2024

Binance PayDay Offers Crypto Users $360 in PEPE Rewards

November 28, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.