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3AC Founders’ Open Exchange Completes Its $25 Million Fundrais | DeFi & Ethereum News

3AC Founders’ Open Exchange Completes Its $25 Million Fundraise

3AC
’s founders provide more details on how their exchange for crypto bankruptcy claims will work. The highly controversial “Open Exchange” (OPNX) headed by once-failed Crypto CEOs has reached its fundraising goal of $25 million – though the founders are yet to reveal their benefactors. Meanwhile, collapsed crypto exchange CoinFLEX has revealed that its restructuring deal.

According to a Twitter thread from DefiIgnas (that was later retweeted by co-founder Zhu Su), Kyle Davies contacted the DeFi researcher late on Monday with news that the fundraiser was now complete. Leaked in January, the raise will help build an exchange for trading the bankruptcy claims of other fallen crypto exchanges and firms that let creditors out to dry during the 2022 bear market. “Users will be onboarded via a Special Purpose Vehicle, which is sometimes called a bankruptcy-remote entity,” explained Ignas. The exchange will abide by know your customer (KYC) rules, and will not be available to American citizens.

Source

https://t.me/DeFi_Ethereum