Coinflex is rebranding to Open Exchange (OPNX), Kyle Davies and Su Zhu's latest crypto venture.
New CEO Leslie Lamb shared the news on LinkedIn. The exchange, intended for trading claims and derivatives related to funds stuck on failed exchanges, is the brainchild of the founders of the now-defunct crypto hedge fund Three Arrows Capital.
Courts in Seychelles approved the firm's restructuring plans on Monday. CoinFLEX's original restructuring proposal included no mention of OPNX or plans to rebrand.
"I'm honored to be the CEO of Open Exchange. Alongside my cofounders, we are committed to applying the lessons of the past year to create a more transparent, accessible, and fair financial world for all," Lamb added.
The former hedge fund founders launched OPNX to unlock trapped claims, and radical transparency, according to Su Zhu.
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