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Three Arrows Capital reincarnation in the mud? Debt trading platform OPNX announces latest partner "Three Arrows Ventures"

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Three Arrows Capital reincarnation in the mud? Debt trading platform OPNX announces latest partner "Three Arrows Ventures"

After the bankruptcy of the hedge fund Three Arrows Capital (3AC) was announced in July last year, its founders Su Zhu and Kyle Davies made a comeback in April this year by launching a bankruptcy claims exchange named "OPNX." Surprisingly, OPNX recently announced their newest investment partner, "Three Arrows Ventures"?

Looking back at the development of OPNX: Founder of 3AC launches new bankruptcy claims exchange "OPNX"! Expected to trade claims of FTX, 3AC, and Mt. Gox, among others.

Without Three Arrows Capital, Here Comes Three Arrows Ventures

According to OPNX's announcement, it was revealed last night that their latest ecosystem partner is 3AC Ventures, an official statement mentioned that this fund will invest in projects developed within the OPNX ecosystem, and is committed to achieving a decentralized future.

Although there is limited information on the 3AC Ventures official website, with no direct indication of who founded this venture, seeing familiar names and logos, one can infer some background. The website's slogan, "3AC Ventures focuses on excellent risk-adjusted returns and does not use leverage," seems to imply that Three Arrows Ventures will not follow the path of Three Arrows Capital towards bankruptcy due to excessive leverage, but the current situation appears particularly ironic.

After all, the liquidation process of 3AC has not been smooth even after a year, and the whereabouts of the two founders remain mysterious. Since they have the funds to establish a venture, why can't they repay their creditors? How would investors who suffered significant losses due to the bankruptcy of 3AC feel when they see the same name resurface in the market?

Co-Founder of Three Arrows Capital: Long Live Three Arrows Ventures

Following the announcement, Kyle Davies, one of the co-founders of Three Arrows Capital, tweeted: "3AC is dead, long live 3AC Ventures." It seems to be a celebration of the birth of Three Arrows Ventures.

This post has also sparked responses from many netizens, with Alex Svanevik, the founder of the data platform Nansen, asking: "Is this a debt-free fork of 3AC?"

In response to this question, Kyle Davies stated: "No leverage, no debt, no fear."

Additionally, well-known crypto community lawyer wassielawyer sarcastically commented: "I think you should buy back 90% of 3AC's debt at a discount and rebuild the company."