Following the recent court filing from liquidators for Three Arrows Capital (3AC) claiming frustration with the 3AC co-founders for allegedly failing to respond to subpoenas sent via Twitter. Su Zhu, one of the co-founders, recently tweeted about his new crypto venture, Open Exchange. The exchange aims to provide users with the ability to trade or use portfolio margin with claims against bankrupt cryptocurrency firms.
Su Zhu, co-founder of the defunct crypto hedge fund Three Arrows Capital (3AC), stated on Thursday that June-July 2022 was a “total darkness” for him and his partner, Kyle Davies. “It was a dark period, and we were not perfect in how we handled the fallout, but we were determined to do all we could,” Zhu tweeted.
He went on to emphasize that “words and liquidations can only go so far,” and the duo wants to build something that “takes all the pain, lessons, and uses it to advance crypto.”
“It is with humility that we announce the claims waitlist is now open, with site UI/UX beta testing coming very soon [at] opnx.com,” Zhu added. The news of Zhu and Davies starting a new venture with two executives from Coinflex exchange was reported in mid-January 2023.
The exchange plans to allow traders to trade a bankruptcy claim from a defunct crypto platform and hold it as portfolio margin. Currently, the exchange is not operational and has a waitlist. Zhu further noted that “FLEX will be the primary token of the new exchange.”
The website displays logos of failed platforms such as Genesis, Celsius, FTX, Blockfi, Voyager, Hodlnaut, Mt Gox, Vauld, and Zipmex, as well as the 3AC logo. The website’s manifesto states that a “$20 billion market of claimants is desperately seeking a solution.”
Zhu’s announcement was not well received on social media, as some members of the crypto community expressed disgust. “Yeah, you lost all rights to work in this industry again,” wrote Magdalena Gronowska. “Instead of launching new scams, you should focus on talking to your lawyers,” she added. “Shut the hell up loser,” responded Nic Carter to Zhu’s tweet.
What are your thoughts on the new bankruptcy-focused crypto exchange and its mission to monetize and trade claims? Share your opinions in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
Following the recent court filing from liquidators for Three Arrows Capital (3AC) claiming frustration with the 3AC co-founders for allegedly failing to respond to subpoenas sent via Twitter. Su Zhu, one of the co-founders, recently tweeted about his new crypto venture, Open Exchange. The exchange aims to provide users with the ability to trade or use portfolio margin with claims against bankrupt cryptocurrency firms.
Su Zhu, co-founder of the defunct crypto hedge fund Three Arrows Capital (3AC), stated on Thursday that June-July 2022 was a “total darkness” for him and his partner, Kyle Davies. “It was a dark period, and we were not perfect in how we handled the fallout, but we were determined to do all we could,” Zhu tweeted.
He went on to emphasize that “words and liquidations can only go so far,” and the duo wants to build something that “takes all the pain, lessons, and uses it to advance crypto.”
“It is with humility that we announce the claims waitlist is now open, with site UI/UX beta testing coming very soon [at] opnx.com,” Zhu added. The news of Zhu and Davies starting a new venture with two executives from Coinflex exchange was reported in mid-January 2023.
The exchange plans to allow traders to trade a bankruptcy claim from a defunct crypto platform and hold it as portfolio margin. Currently, the exchange is not operational and has a waitlist. Zhu further noted that “FLEX will be the primary token of the new exchange.”
The website displays logos of failed platforms such as Genesis, Celsius, FTX, Blockfi, Voyager, Hodlnaut, Mt Gox, Vauld, and Zipmex, as well as the 3AC logo. The website’s manifesto states that a “$20 billion market of claimants is desperately seeking a solution.”
Zhu’s announcement was not well received on social media, as some members of the crypto community expressed disgust. “Yeah, you lost all rights to work in this industry again,” wrote Magdalena Gronowska. “Instead of launching new scams, you should focus on talking to your lawyers,” she added. “Shut the hell up loser,” responded Nic Carter to Zhu’s tweet.
What are your thoughts on the new bankruptcy-focused crypto exchange and its mission to monetize and trade claims? Share your opinions in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
Solana slipped to a three-week low on Feb.10, as momentum in cryptocurrency markets remained firmly bearish. At the time of writing this, the global market cap is trading 4.23% lower, with bears recapturing sentiment. Cardano was also on the decline, falling by as much as 8% today.
Solana (SOL) prices plunged during today’s session, which comes as bears have seemingly recaptured market sentiment.
Following a high of $22.90 on Thursday, SOL/USD moved to an intraday low at $20.20 earlier in the session.
This drop resulted in the token hitting its lowest point since January 19, when solana last collided with a floor at $20.00.
Since hitting a peak of 87.67 on the 14-day relative strength index (RSI) back on January 13, price strength has consistently declined.
As a result of this, the index is now tracking at 44.21, which is its weakest point since January 2 when SOL was under $10.00.
Ultimately, this has its positives, as longer-term bulls may see this as a sign that prices are gradually moving in the right direction.
Cardano (ADA) extended its own recent sell-off on Friday, with prices falling for a third straight session.
ADA/USD dropped to an intraday low of $0.3558 earlier today, which comes after prices peaked at $0.3896 on Thursday.
As a result of this drop, ADA slipped to its weakest point since January 25, breaking out of a floor at $0.3590 in the process.
Since falling from this point of support, ADA has somewhat rallied, with bulls moving to buy the dip in price.
This took place as the RSI leveled out at a floor of 46.70, with cardano currently at $0.3611.
If this floor on the indicator continues to hold firm, there could be a rally over the week, with bulls re-entering the market.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect cardano rally once today’s sell-off has ceased? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Fidelity Investments Launches Crypto, Metaverse ETFs — Says 'We Continue to See Demand'
Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.
Solana slipped to a three-week low on Feb.10, as momentum in cryptocurrency markets remained firmly bearish. At the time of writing this, the global market cap is trading 4.23% lower, with bears recapturing sentiment. Cardano was also on the decline, falling by as much as 8% today.
Solana (SOL) prices plunged during today’s session, which comes as bears have seemingly recaptured market sentiment.
Following a high of $22.90 on Thursday, SOL/USD moved to an intraday low at $20.20 earlier in the session.
This drop resulted in the token hitting its lowest point since January 19, when solana last collided with a floor at $20.00.
Since hitting a peak of 87.67 on the 14-day relative strength index (RSI) back on January 13, price strength has consistently declined.
As a result of this, the index is now tracking at 44.21, which is its weakest point since January 2 when SOL was under $10.00.
Ultimately, this has its positives, as longer-term bulls may see this as a sign that prices are gradually moving in the right direction.
Cardano (ADA) extended its own recent sell-off on Friday, with prices falling for a third straight session.
ADA/USD dropped to an intraday low of $0.3558 earlier today, which comes after prices peaked at $0.3896 on Thursday.
As a result of this drop, ADA slipped to its weakest point since January 25, breaking out of a floor at $0.3590 in the process.
Since falling from this point of support, ADA has somewhat rallied, with bulls moving to buy the dip in price.
This took place as the RSI leveled out at a floor of 46.70, with cardano currently at $0.3611.
If this floor on the indicator continues to hold firm, there could be a rally over the week, with bulls re-entering the market.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect cardano rally once today’s sell-off has ceased? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Fidelity Investments Launches Crypto, Metaverse ETFs — Says 'We Continue to See Demand'
Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.
PRESS RELEASE. Ankr, one of the world’s leading Web3 infrastructure providers, has become one of the first enterprise-level RPC (Remote Procedure Call) providers for Secret Network. Secret Network is the first mainnet blockchain with privacy-preserving smart contracts, enabling developers to build apps that are decentralized and permissionless, while also making use of encrypted inputs, outputs, and state. Secret Network is the first chain from the Cosmos ecosystem to be supported by Ankr.
Ankr’s Secret Network RPC endpoints provide a convenient way for developers to access the network. By using these endpoints, developers can communicate with Secret Network without having to set up their own nodes or run a full client. This enables easy and remote interaction with the blockchain, allowing developers to send requests, receive responses, and access features like sending transactions, querying state, and retrieving event logs. This will include supported request methods from both Secret Network and Cosmos. With the use of RPC endpoints, developers can efficiently build and deploy decentralized applications on the Secret Network.
Guy Zyskind, SCRT Labs CEO said “Ankr’s Secret Network RPC endpoints will bridge the gap between developers and blockchain, empowering them to build and deploy innovative, private and decentralized applications with ease and efficiency.”
Josh Neuroth, Ankr’s Head of Product, added, “Secret’s privacy technology, paired with Ankr’s easy connection to global, high-performance Secret Network nodes, will create a building environment that is faster and more secure than ever before.”
Ankr’s Secret Network RPC will include additional docs, features, and tools available on the platform to help Web3 developers streamline building. Ankr delivers time-tested and high-performance RPC node infrastructure to handle any request load, massively expanding Secret’s public RPC resources. To strengthen the global Secret network, Ankr is providing a geo-distributed and decentralized Secret RPC composed of many independent blockchain nodes running worldwide for low-latency and reliable connections.
About Secret
Secret Network is the first blockchain with data privacy by default for smart contracts, allowing you to build and use applications that are both permissionless and privacy-preserving. This unique functionality protects users, secures applications, and unlocks hundreds of never-before-possible use cases for Web3. First launched on mainnet in February 2020, the network is supported by dozens of independent development companies (including the SCRT Labs core development team), world-class “secret node” operators, and thousands of Secret Agents around the world helping to advance the cause of data privacy for the decentralized web. Secret Network was built with the Cosmos SDK, which allows it to provide interoperable privacy to the entire Cosmos ecosystem.
Media contact: info@scrtlabs.com
For more information, visit: Website | Twitter | Discord | Telegram | Blog
About Ankr
Ankr is building the future of decentralized Web3 infrastructure, servicing dozens of Proof-of-Stake chains with an industry-leading global node delivery system and RPC aggregator. Ankr currently serves over 2 trillion transactions a year across Web3 and is the leading infrastructure provider for BSC, Fantom, and Polygon chains as of 2023. Ankr also offers a full set of developer tools, including the Liquid Staking SDK, Web3 Gaming SDK, and AppChains as a Service, that empower dApp developers to build Web3 apps quickly and easily.
Media contact: Fabio Wehb Ferrari, fabio@ankr.com
For more information, visit: Website | Twitter | Telegram | Reddit | Discord | Medium
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits
As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.
Source From : News