Black_background_logo_BitcoinWorld-removebg-preview
OPNX Token Soar 50% Following Co-founder Su Zhu Unexpected Tweet
Latest News News

OPNX Token Soar 50% Following Co-founder Su Zhu Unexpected Tweet

  • OPNX co-founder Su Zhu posted on platform X for the first time after his arrest in September.
  • The OPNX token (OX) hit a price high not seen since co-founder Su Zhu was arrested in late September.

Open Exchange Token (OX), the native token of the bankrupt crypto platform OPNX, soared 50% just 20 minutes after co-founder Su Zhu supposedly posted to X (Twitter) for the first time since his arrest in September.

On Dec. 1, Su Zhu posted a simple “gm” — an abbreviation for “good morning” — marking his first X post since Sept. 29, the same day he was arrested at Singapore’s Changi Airport attempting to leave the country.

In the 20 minutes after Su’s X post, OX jumped nearly 50% to $0.021 and hit a 63-day high — a price not seen since the day of Su’s Sept. 29 arrest, according to Coinstats data.

OPNX Price Chart | Source: Coinstats

 

Shortly after the price peak, OX retraced by around 6%. It’s market cap now sits at over $104.5 million.

Su was arrested on Sept. 29 when attempting to leave Singapore following a court order to send him to jail for contempt of court.

Read Also: 3AC Co-founder Su Zhu Seemingly Released From Singaporean Prison

The order was meant to see Su serve four months’ imprisonment — meaning he wouldn’t be released until next year, though some have speculated he may have been released after a wallet labeled “suzhu.eth” — believed to belong to Su (though unconfirmed) — became active again on Nov. 29.

OPNX, short for Open Exchange, is a platform allowing for the trade of creditor claims from bankrupt crypto companies.

Su and co-founder Kyle Davies founded the exchange following the bankruptcy of their $10 billion Singapore-based crypto hedge fund Three Arrows Capital (3AC) — which folded in June 2022.

Su and Davies both initially fled Singapore after 3AC’s collapse. Su returned and Davies is believed to reside on the Indonesian island of Bali.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.