Susquehanna, DRW Are Among Backers of Bankruptcy Claims Exchange OPNX, the Firm Tweets

The "major investors" in OPNX, a new exchange for trading bankruptcy claims founded by the people behind failed crypto hedge fund Three Arrows Capital (3AC), include high-profile firms including Susquehanna International Group (SIG) and DRW, the company tweeted Friday.

OPNX tweeted that other backers include venture-capital firm Nascent, Taiwanese venture-capital firm AppWorks, U.S. options exchange MIAX Group, the Hong Kong arm of China Merchant Bank International and Saudi digital asset fund Tuwaiq.

Later Friday, DRW and Nascent denied they invested in OPNX.

OPNX co-founder Kyle Davies, who also started the now-bankrupt 3AC, remained tight-lipped on the company's backers when he spoke recently to CoinDesk.

The exchange got off to a slow start, executing a paltry figure of volume on its first day after going live. Since then, OPNX topped $2 million in daily volume earlier this month, according to flexstatistics.

Read more: Bankruptcy Claims Exchange OPNX Stumbles Out of the Gate

The reputable list of investors demonstrates demand from traditional finance for crypto startups.

Davies was given two weeks on March 30 to respond to a subpoena in relation to books and records for 3AC, according to a ruling in U.S. bankruptcy court.

Read more: OPNX Exchange, Which Offers FTX Claims Trading, Led by Three Arrows Founders, Is Now Live

UPDATE: (April 21, 2023, 18:01 UTC): Adds denial by DRW and Nascent.