"It's Ugly", OPNX Says, after It Disclosed Investor List But Multiple Firms Denied

OPNX, the claim exchange launched by Three Arrows Capital co-founders Zhu Su and Kyle Davies, disclosed the list of its investors. However, multiple firms on the list denied investment in OPNX.

The investors disclosed by OPNX include AppWorks, Susquehanna (SIG), DRW, MIAX Group, China Merchant Bank International, Token Bay Capital, Nascent and Tuwaiq Limited. The exchange noted that the list contains both investors through CoinFLEX and direct OPNX investors.

Following the announcement, Nascent said on Twitter, "just to clarify, Nascent did not participate in an OPNX fundraising round, we invested in FLEX tokens in early 2021." In addition, SIG, DRW and MIAX Group all denied they had invested in OPNX.

OPNX used Twitter to respond, saying,

"At OPNX, our core value is transparency. We believe in full disclosure of our institutional backers and key strategic partners. It's ugly for firms to seek financial gain while simultaneously denying association due to fear of social media backlash.Should any party waver in their dedication to transparency and industry advancement, we express our disappointment at their misrepresentation and prefer not to have them as investors in future."

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