Three Arrows Capital’s (3AC) co-founders, Kyle Davies and Su Zhu, recently launched the Open Exchange (OPNX) to provide holders of the FLEX token a discount of up to 50% on trading fees. The exchange also offers spot, futures and bankruptcy claims trading options for various digital currencies, such as Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Dogecoin (DOGE). Notably, OPNX is not open for users in the US and some other regions.

The FLEX token has experienced an overwhelming upsurge in the price since its adoption by OPNX, increasing from five cents in January 2021 to $2.73 some few days ago. This massive 5000% surge in the current year outperforms cryptocurrencies like Bitcoin, Ethereum and other notable digital assets during the same period.

OPNX has been criticized due to its association with the struggling CoinFLEX exchange and its founders. Despite all this, OPNX CEO Leslie Lambs insists that the exchange is committed to helping the industry as she noted that over 20 million claimants have been affected by the bankruptcy of companies like FTX.

Furthermore, OPNX Terms of Service made it mandatory that no former government officials or “politically exposed persons” as defined by FATF’s 40 Recommendations are to use the platform.

The introduction of the Open Exchange has been beneficial to the crypto ecosystem as it has provided users with a discounted trading platform for various digital assets and consequently, the FLEX token which has experienced an increase in price.



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