• Users who held assets on bankrupt crypto exchange FTX and lender Celsius Network can now trade their claims on the Open Exchange (OPNX).
• Claims are currently selling for around $0.30 per dollar on OPNX rival Claims Market.
• When users sell their claim, they will receive the platform’s native tokens, reborn OX (reOX) or oUSD, which is the platform’s profit-and-loss currency.
FTX and Celsius Bankruptcy Claims Can Now Be Sold on OPNX
Users who held assets on bankrupt crypto exchange FTX and lender Celsius Network can now trade their claims on the Open Exchange (OPNX). According to a press release, FTX owes as much as $8 billion to customers while Celsius owes its users around $4.7 billion.
Claims Market Price
Claims are currently selling for around $0.30 per dollar on OPNX rival Claims Market.
Tokens Received By Selling Claim
When users sell their claim, they will receive the platform’s native tokens, reborn OX (reOX) or oUSD, which is the platform’s profit-and-loss currency.
Benefits of Tokenization
“With claim tokenization, we are offering customers immediate liquidity, the chance to regain control over their funds, and participate in market opportunities once again,” said OPNX founder Mark Lamb.
About The Founded Companies
OPNX was co-founded by CoinFlex’s Mark and Leslie Lamb alongside Three Arrows Capital’s Kyle Davies and Su Zhu.
Three Arrows Capital was one of the first dominos to fall in last year’s cryptocurrency bear market. It imploded after a highly leveraged trading strategy backfired, leading to a wave of liquidations across the industry.