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Open Exchange (OPNX), the crypto currency derivatives and bankruptcy claims platform founded by Su Zhu and Kyle Davies, the duo behind the now-bankrupt hedge fund Three Arrows Capital (3AC), will shut down this February. In an email sent to customers, OPNX advised users on the necessary actions to take before the exchange closed down, which included settling all positions by Feb. 7, 2024, and withdrawing all their assets from the platform by Feb. 14, 2024. OPNX shutting down pic.twitter.com/BIRBX3uiBV — Cole (@cole0x) February 1, 2024 Reasons for the closure were not mentioned in the announcement. “We are deeply thankful to each member of the OPNX community for their dedication and trust. As we conclude this chapter, we cherish the experiences shared and look ahead with gratitude.” OPNX’s email to users OPNX links and troubled past OPNX was established by Su Zhu and Kyle Davis in conjunction with CoinFLEX, and launched in April 2023. Notably, Zhu and Kyle a...

SoftBank-backed metaverse firm Improbable has sold one of its major gaming venture s to an Irish video game developer. According to a CNBC report, Improbable sold its multiplayer games developer The Multiplayer Group (MPG) for $97.1 million to Keywords Studios, an Irish video game industry services company. While this transaction aligns with Improbable’s broader venture builder strategy, analysts have raised concerns about the company’s ability to effectively commercialize its technology, citing perceived technical limitations and high associated costs. In a commentary to CNBC, Greg Martin, co-founder and managing director of Rainmaker Securities, a private market trading firm, noted that Improbable’s business model remains uncertain, saying “the jury is still out if they have a viable business model going forward.” You might also like: Metaverse firm, Improbable, changes tact after slashing losses by 85% However, Improbable’s CEO, He...