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Three Arrows Capital Founders Launch Exchange Where You Can Trade 3AC Bankruptcy Claims
Named Open Exchange, the platform aims to be a home for trading what it says is a $20 billion market of claims against bankrupt crypto firms, including those of 3AC.
Zhu Su and Kyle Davies, the founders of failed crypto hedge fund Three Arrows Capital (3AC), have teamed with the co-founders of crypto exchange CoinFlex on the creation of Open Exchange, touting it as the "world's first public market place for crypto claims trading and derivatives."
Noting a $20 billion market of claimants "desperately searching" for resolution to money lost at bankrupt crypto firms including FTX, Voyager Digital, Celsius Network, CoinDesk sister company Genesis, BlockFi, Mt. Gox and 3AC itself, Open Exchange promises the ability to monetize claims by providing a marketplace for their trading.
STORY CONTINUES BELOW
Read more: A Large Crypto Market Maker Is Already Distancing Itself From New 3AC Venture
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
