{"investigation":{"slug":"kyle-davies","entity_name":"Kyle Davies","trust_score":3,"severity_base":null,"score_modifier":0,"confidence":0.92,"status":"published","content_type":"investigation","summary":"Kyle Davies is the co-founder of Three Arrows Capital (3AC), a Singapore-based cryptocurrency hedge fund that collapsed in June 2022 with approximately $3.5 billion in liabilities owed to 27 creditors. Following the collapse, Davies evaded liquidators, was sentenced in absentia to four months imprisonment in Singapore for failing to cooperate with court-ordered investigations, and received a nine-year ban from Singapore's Monetary Authority of Singapore (MAS) for regulatory violations including providing false information to regulators. He subsequently co-founded OPNX, a crypto bankruptcy claims exchange that also failed and shut down in early 2024.","sections":[{"content":"Kyle Livingston Davies co-founded Three Arrows Capital in 2012 alongside Su Zhu, a former colleague from their time at Credit Suisse. Davies and Zhu had first met while students at Phillips Academy and both later attended Columbia University before joining Credit Suisse as traders. Davies left Credit Suisse in September 2012 to establish 3AC, which grew into one of the largest cryptocurrency hedge funds globally by 2021, reportedly managing over $10 billion in assets at peak valuations. The fund was registered in Singapore and the British Virgin Islands and employed an aggressive leveraged trading strategy across major digital assets.","heading":"Background and Early Career","sources":[{"url":"https://en.wikipedia.org/wiki/Three_Arrows_Capital","name":"en.wikipedia.org","type":"other","credibility":3},{"url":"https://www.theblock.co/profile/348658/kyle-davies","name":"theblock.co","type":"other","credibility":3},{"url":"https://golden.com/wiki/Kyle_Davies-ZYMYNRM","name":"golden.com","type":"other","credibility":3}],"severity":"medium"},{"content":"Three Arrows Capital began facing severe liquidity stress following the collapse of the Terra/LUNA ecosystem in May 2022. 3AC had invested approximately $200 million in LUNA tokens as part of a $1 billion raise by the Luna Foundation Guard in early 2022; by mid-May those holdings had fallen to near-zero. The fund's losses extended beyond LUNA: the net value of its broader digital asset holdings reportedly fell by approximately $858 million in the same period. 3AC had borrowed heavily across the industry, and as asset values collapsed, the fund failed to meet margin calls from lenders including Genesis Global Trading (owed approximately $2.36 billion) and Voyager Digital (owed approximately $685 million). A British Virgin Islands court ordered 3AC's liquidation on June 27, 2022, and the fund filed for Chapter 15 bankruptcy protection in the United States on July 2, 2022. Court filings from liquidator Teneo confirmed total creditor claims of approximately $3.5 billion across 27 creditors. Bankruptcy filings also revealed that Davies and Zhu had made a down-payment on a $50 million yacht and that significant real estate assets were held under the names of family members.","heading":"Three Arrows Capital Collapse","sources":[{"url":"https://decrypt.co/105416/bankrupt-three-arrows-capital-owes-3-5b-to-creditors-including-2-3b-to-genesis","name":"decrypt.co","type":"other","credibility":3},{"url":"https://fortune.com/2022/07/19/3ac-bankruptcy-filing-founders-missing-yacht-debt-creditors-owed/","name":"fortune.com","type":"other","credibility":3},{"url":"https://www.cnbc.com/2022/07/11/how-the-fall-of-three-arrows-or-3ac-dragged-down-crypto-investors.html","name":"cnbc.com","type":"other","credibility":3},{"url":"https://www.theblock.co/post/158169/three-arrows-capital-3ac-creditors-list-3-5-billion-crypto-affidavits","name":"theblock.co","type":"other","credibility":3},{"url":"https://fortune.com/2022/06/17/three-arrows-capital-200-million-loss-luna-terra-crypto-hedge-fund/","name":"fortune.com","type":"other","credibility":3}],"severity":"medium"},{"content":"Following the collapse, Davies and Zhu's whereabouts were initially unknown. Liquidators appointed by the BVI court, led by Teneo, sought cooperation from the founders in recovering assets and producing records including wallet seed phrases and private communications. Davies repeatedly failed to comply. In January 2023, a New York bankruptcy court issued a subpoena to Davies via Twitter — an unusual method employed due to his unknown location. Davies ignored this and subsequent court orders. In March 2023, Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York ordered Davies to comply with the subpoena by April 13; he did not. 3AC's liquidators filed a contempt motion in June 2023 seeking a $10,000-per-day fine. However, in August 2023, Judge Glenn ruled that Davies had not been properly served because he had renounced his U.S. citizenship at the end of 2020 and was therefore not subject to the court's jurisdiction. Davies confirmed to the court that he viewed himself as a Singapore citizen only, and stated publicly that U.S. courts had no authority over him. In December 2023, a BVI court issued a worldwide freezing order on up to $1.1 billion in assets belonging to both founders and Davies' wife Kelly Chen, citing alleged responsibility for the deterioration of 3AC's financial position.","heading":"Evasion of Liquidators and Legal Proceedings","sources":[{"url":"https://www.coindesk.com/policy/2023/03/30/three-arrows-capitals-kyle-davies-ordered-to-respond-to-subpoena-within-2-weeks","name":"coindesk.com","type":"other","credibility":3},{"url":"https://cointelegraph.com/news/3ac-liquidators-file-motion-hold-kyle-davies-in-contempt","name":"cointelegraph.com","type":"other","credibility":3},{"url":"https://www.bloomberg.com/news/articles/2023-08-11/kyle-davies-of-crypto-hedge-fund-3ac-beats-fine-over-twitter-subpoena","name":"bloomberg.com","type":"other","credibility":3},{"url":"https://www.coindesk.com/policy/2023/12/21/court-freezes-1-billion-of-assets-of-three-arrows-capital-founders","name":"coindesk.com","type":"other","credibility":3},{"url":"https://coingeek.com/3ac-founder-kyle-davies-tells-court-he-has-renounced-us-citizenship/","name":"coingeek.com","type":"other","credibility":3},{"url":"https://decrypt.co/150890/three-arrows-capital-co-founder-kyle-davies-rejects-us-court-jurisdiction","name":"decrypt.co","type":"other","credibility":3},{"url":"https://news.bitcoin.com/subpoena-evasion-3ac-asks-court-to-fine-kyle-davies-10000-daily-for-non-compliance/","name":"news.bitcoin.com","type":"other","credibility":3}],"severity":"medium"},{"content":"Singapore courts issued a committal order against both Davies and co-founder Su Zhu for their alleged failure to cooperate with 3AC's liquidators. Su Zhu was arrested at Singapore's Changi Airport in late September 2023 while attempting to leave the country, was sentenced to four months imprisonment, and was released in December 2023 under standard good-behavior provisions. Kyle Davies, who was not present in Singapore, received the same four-month committal order in absentia. As of the time of this report, Davies remains at large and has not served this sentence. In interviews in 2024, Davies stated he was in Europe and expressed unwillingness to return to Singapore. He publicly stated he does not intend to serve the sentence and showed no remorse over the 3AC collapse.","heading":"Singapore Sentencing in Absentia","sources":[{"url":"https://techcrunch.com/2023/09/29/three-arrows-capital-co-founder-zhu-arrested-in-singapore-airport-sentenced-four-months-in-prison/","name":"techcrunch.com","type":"other","credibility":3},{"url":"https://www.dlnews.com/articles/people-culture/3ac-co-founder-su-zhu-jailed-four-months-singapore/","name":"dlnews.com","type":"other","credibility":3},{"url":"https://www.blockhead.co/2024/03/20/kyle-davies-not-keen-on-singapore-jail-despite-3ac-co-founder-su-zhus-enjoyable-experience/","name":"blockhead.co","type":"other","credibility":3},{"url":"https://www.coindesk.com/policy/2024/03/20/3ac-co-founder-kyle-davies-says-he-wont-apologize-for-crypto-hedge-fund-going-bankrupt","name":"coindesk.com","type":"other","credibility":3},{"url":"https://www.ccn.com/news/three-arrows-zhu-arrested-davies-fugitive/","name":"ccn.com","type":"other","credibility":3}],"severity":"medium"},{"content":"On September 13, 2023, Singapore's Monetary Authority of Singapore (MAS) issued nine-year prohibition orders against both Su Zhu and Kyle Davies. The orders prohibit them from conducting any regulated activity in Singapore and from holding management, directorial, or substantial shareholder positions at any capital markets services firm for nine years commencing September 13, 2023. MAS cited multiple specific violations: 3AC had failed to notify MAS of the appointment of a new fund manager and had falsely represented to the regulator that the individual was not conducting regulated activities; the fund had failed to maintain an appropriate risk management framework; and the founders had demonstrated what MAS Assistant Managing Director Loo Siew Yee described as a 'flagrant disregard of MAS regulatory requirements and dereliction of their directors' duties.' MAS had previously issued a reprimand against 3AC in June 2022 for providing false information to the public.","heading":"Monetary Authority of Singapore Regulatory Ban","sources":[{"url":"https://www.coindesk.com/policy/2023/09/14/three-arrows-founders-hit-with-9-year-trading-ban-in-singapore","name":"coindesk.com","type":"other","credibility":3},{"url":"https://decrypt.co/156666/3acs-zhu-su-kyle-davies-slapped-with-9-year-finance-ban-by-singapore-monetary-authority","name":"decrypt.co","type":"other","credibility":3},{"url":"https://www.bloomberg.com/news/articles/2023-09-14/singapore-bans-zhu-davies-over-crypto-hedge-fund-three-arrows","name":"bloomberg.com","type":"other","credibility":3},{"url":"https://fintechnews.sg/78202/fintech/mas-slaps-9-year-ban-on-three-arrows-founders-for-flagrant-disregard-of-rules/","name":"fintechnews.sg","type":"other","credibility":3},{"url":"https://www.theblock.co/post/250928/singapore-regulator-issues-bans-against-three-arrows-capital-founders","name":"theblock.co","type":"other","credibility":3}],"severity":"medium"},{"content":"In late 2022, while avoiding legal proceedings, Davies and Zhu partnered with CoinFLEX founders Mark Lamb and Leslie Lamb to launch OPNX (Open Exchange), a platform allowing the trading of cryptocurrency bankruptcy claims including those of FTX and Celsius, alongside spot and futures trading. OPNX launched in April 2023. Shortly after launch, Dubai's Virtual Asset Regulatory Authority (VARA) formally reprimanded Davies, Zhu, and the other OPNX founders for allegedly illegally promoting the platform in the emirate. VARA later fined OPNX approximately $2.7 million for violating market conduct rules; the fine was reported as unpaid at the time of reporting. OPNX shut down in early February 2024, with the exchange citing that FTX estate claims had reached sufficient recovery levels. In 2024, Davies and Zhu joined OX.FUN, a gamified crypto derivatives exchange, as advisors. Davies pledged at one point to donate future OPNX earnings to 3AC creditors for what he described as 'karma,' though OPNX generated minimal revenue before closing.","heading":"OPNX Exchange and Subsequent Ventures","sources":[{"url":"https://www.coindesk.com/business/2023/03/24/a-three-arrows-capital-founder-talks-about-his-new-crypto-bankruptcy-exchange","name":"coindesk.com","type":"other","credibility":3},{"url":"https://decrypt.co/138581/dubai-reprimands-three-arrows-capital-founders-new-exchange-opnx","name":"decrypt.co","type":"other","credibility":3},{"url":"https://www.coindesk.com/policy/2023/05/02/3ac-founders-opnx-exchange-formally-reprimanded-by-dubai-crypto-regulator","name":"coindesk.com","type":"other","credibility":3},{"url":"https://crypto.news/another-failed-crypto-venture-by-su-zhu-and-kyle-davies-opnx-is-shutting-down/","name":"crypto.news","type":"other","credibility":3},{"url":"https://www.coindesk.com/markets/2024/02/02/opnx-founder-su-zhu-says-shutdown-comes-because-ftx-estate-claims-reached-recovery","name":"coindesk.com","type":"other","credibility":3},{"url":"https://cointelegraph.com/news/kyle-davies-donate-future-opnx-earnings-3ac-creditors","name":"cointelegraph.com","type":"other","credibility":3},{"url":"https://protos.com/zhu-su-and-kyle-davies-exchange-opnx-is-failing/","name":"protos.com","type":"other","credibility":3}],"severity":"medium"},{"content":"The BVI worldwide freezing order issued in December 2023 targeted assets held by Davies, Zhu, and Davies' wife Kelly Chen. The order was designed to prevent the founders from dissipating assets globally ahead of the liquidators' $1.3 billion claim. Separately, property linked to 3AC founders' family members attracted attention: Su Zhu's wife had listed a Singapore property valued at approximately S$51 million. In May 2025, Kelly Chen — Davies' wife — sold a Singapore bungalow at Peirce Hill for approximately S$37 million (approximately USD $28.7 million), having originally listed it for S$45 million. The liquidators filed a separate $1.3 billion claim against TerraForm Labs in August 2024, alleging that Terraform had induced 3AC to purchase LUNA and TerraUSD through market manipulation that artificially inflated prices.","heading":"Asset Seizure and Family Property","sources":[{"url":"https://www.coindesk.com/policy/2023/12/21/court-freezes-1-billion-of-assets-of-three-arrows-capital-founders","name":"coindesk.com","type":"other","credibility":3},{"url":"https://www.theblock.co/post/268758/bvi-court-freezes-three-arrows-capital-founders-1-billion-in-assets","name":"theblock.co","type":"other","credibility":3},{"url":"https://www.bloomberg.com/news/articles/2024-08-12/three-arrows-liquidators-seek-1-3-billion-over-2022-luna-crash","name":"bloomberg.com","type":"other","credibility":3},{"url":"https://www.caproasia.com/2025/05/28/collapsed-3-billion-crypto-hedge-fund-three-arrows-capital-co-founder-kyle-davies-wife-kelly-chan-to-sell-singapore-bungalow-at-peirce-hill-for-28-7-million-s37-million-bvi-court-issued-order-in/","name":"caproasia.com","type":"other","credibility":3},{"url":"https://www.bnnbloomberg.ca/business/international/2024/11/02/disgraced-three-arrows-founders-wife-sells-38-million-singapore-mansion/","name":"bnnbloomberg.ca","type":"other","credibility":3}],"severity":"medium"},{"content":"Throughout multiple post-collapse interviews, Davies expressed no remorse for the collapse of 3AC or the losses suffered by creditors. In a March 2024 interview on the Unchained Podcast, Davies stated he was unapologetic and compared himself to Lloyd Blankfein of Goldman Sachs. 3AC liquidators noted in court filings that while Davies ignored subpoenas and refused to cooperate with bankruptcy proceedings, he was simultaneously active on social media and publicly promoting OPNX — conduct the liquidators described as 'shameless.' Davies stated publicly that he intended to avoid Singapore until he could settle with relevant authorities on his own terms, and expressed confidence that he could eventually return to the United States where his family is based, despite the outstanding committal order and BVI asset freeze.","heading":"Public Statements and Conduct","sources":[{"url":"https://cryptopotato.com/kyle-davies-says-he-is-unapologetic-about-the-collapse-of-three-arrows-capital-3ac/","name":"cryptopotato.com","type":"other","credibility":3},{"url":"https://unchainedcrypto.com/3acs-kyle-davies-on-why-hes-cryptos-lloyd-blankfein-and-why-hes-not-sorry/","name":"unchainedcrypto.com","type":"other","credibility":3},{"url":"https://protos.com/kyle-davies-not-sorry-for-actions-intends-to-avoid-prison/","name":"protos.com","type":"other","credibility":3},{"url":"https://247wallst.com/investing/2023/02/08/3ac-founder-kyle-davies-dodged-subpoenas-shamelessly-promoting-new-venture-filing/","name":"247wallst.com","type":"other","credibility":3},{"url":"https://www.coindesk.com/policy/2024/03/20/3ac-co-founder-kyle-davies-says-he-wont-apologize-for-crypto-hedge-fund-going-bankrupt","name":"coindesk.com","type":"other","credibility":3}],"severity":"medium"}],"timeline":[{"date":"2012","event":"Kyle Davies and Su Zhu co-found Three Arrows Capital in Singapore after leaving Credit Suisse.","source":"","date_original":"2012-01-01"},{"date":"2022-02","event":"3AC acquires approximately $190 million in LUNA tokens as part of a $1 billion Luna Foundation Guard raise.","source":"","date_original":"2022-02-01"},{"date":"2022-05-12","event":"Terra/LUNA ecosystem collapses; 3AC's LUNA holdings, worth approximately $462 million in late April, fall to near zero.","source":""},{"date":"2022-06-16","event":"3AC fails margin calls with multiple lenders; collapse becomes publicly known.","source":""},{"date":"2022-06-27","event":"BVI court orders liquidation of Three Arrows Capital. Teneo appointed as liquidator.","source":""},{"date":"2022-07-02","event":"Three Arrows Capital files for Chapter 15 bankruptcy protection in the United States. Court filings confirm $3.5 billion owed to 27 creditors.","source":""},{"date":"2022-07-22","event":"Davies and Zhu break public silence in interview, reportedly planning to move to the UAE. Their exact location remains undisclosed.","source":""},{"date":"2023","event":"3AC liquidators issue subpoena to Kyle Davies via Twitter in New York bankruptcy court, seeking company records and wallet credentials.","source":"","date_original":"2023-01-01"},{"date":"2023-03-30","event":"Judge Martin Glenn orders Davies to comply with subpoena by April 13. Davies does not respond.","source":""},{"date":"2023-04","event":"OPNX (Open Exchange), co-founded by Davies and Zhu, launches in Dubai.","source":"","date_original":"2023-04-01"},{"date":"2023-05-02","event":"Dubai's VARA formally reprimands OPNX founders including Davies for illegally promoting the exchange in the emirate.","source":""},{"date":"2023-06-15","event":"3AC liquidators file motion to hold Davies in contempt of court, seeking a $10,000 per day fine.","source":""},{"date":"2023-08-11","event":"Judge Glenn rules Davies was not properly served via Twitter subpoena because he renounced U.S. citizenship in late 2020. Contempt fine not imposed.","source":""},{"date":"2023-08","event":"VARA fines OPNX approximately $2.7 million for violating market conduct rules.","source":"","date_original":"2023-08-01"},{"date":"2023-09-13","event":"MAS issues 9-year prohibition orders against Kyle Davies and Su Zhu, barring them from regulated financial activities in Singapore and citing false information provided to regulators.","source":""},{"date":"2023-09-29","event":"Su Zhu is arrested at Singapore's Changi Airport. Committal order also issued against Davies in absentia for four months imprisonment. Davies remains at large.","source":""},{"date":"2023-12-18","event":"BVI court issues worldwide freezing order on up to $1.1 billion in assets belonging to Davies, Zhu, and Davies' wife Kelly Chen.","source":""},{"date":"2024-02-07","event":"OPNX shuts down, advising customers to withdraw all assets by February 14, 2024.","source":""},{"date":"2024-03-20","event":"Davies gives Unchained Podcast interview stating he is unapologetic about 3AC's collapse, comparing himself to Goldman Sachs CEO Lloyd Blankfein.","source":""},{"date":"2024-08-12","event":"3AC liquidators file $1.3 billion claim against TerraForm Labs, alleging market manipulation led 3AC to purchase LUNA at artificially inflated prices.","source":""},{"date":"2025-05-28","event":"Davies' wife Kelly Chen sells Singapore bungalow at Peirce Hill for S$37 million (approximately USD $28.7 million), amid ongoing BVI asset freeze proceedings.","source":""}],"sources_used":[{"url":"https://en.wikipedia.org/wiki/Three_Arrows_Capital","name":"en.wikipedia.org","type":"other","credibility":3},{"url":"https://www.theblock.co/profile/348658/kyle-davies","name":"theblock.co","type":"other","credibility":3},{"url":"https://golden.com/wiki/Kyle_Davies-ZYMYNRM","name":"golden.com","type":"other","credibility":3},{"url":"https://decrypt.co/105416/bankrupt-three-arrows-capital-owes-3-5b-to-creditors-including-2-3b-to-genesis","name":"decrypt.co","type":"other","credibility":3},{"url":"https://fortune.com/2022/07/19/3ac-bankruptcy-filing-founders-missing-yacht-debt-creditors-owed/","name":"fortune.com","type":"other","credibility":3},{"url":"https://www.cnbc.com/2022/07/11/how-the-fall-of-three-arrows-or-3ac-dragged-down-crypto-investors.html","name":"cnbc.com","type":"other","credibility":3},{"url":"https://www.theblock.co/post/158169/three-arrows-capital-3ac-creditors-list-3-5-billion-crypto-affidavits","name":"theblock.co","type":"other","credibility":3},{"url":"https://fortune.com/2022/06/17/three-arrows-capital-200-million-loss-luna-terra-crypto-hedge-fund/","name":"fortune.com","type":"other","credibility":3},{"url":"https://www.coindesk.com/policy/2023/03/30/three-arrows-capitals-kyle-davies-ordered-to-respond-to-subpoena-within-2-weeks","name":"coindesk.com","type":"other","credibility":3},{"url":"https://cointelegraph.com/news/3ac-liquidators-file-motion-hold-kyle-davies-in-contempt","name":"cointelegraph.com","type":"other","credibility":3},{"url":"https://www.bloomberg.com/news/articles/2023-08-11/kyle-davies-of-crypto-hedge-fund-3ac-beats-fine-over-twitter-subpoena","name":"bloomberg.com","type":"other","credibility":3},{"url":"https://www.coindesk.com/policy/2023/12/21/court-freezes-1-billion-of-assets-of-three-arrows-capital-founders","name":"coindesk.com","type":"other","credibility":3},{"url":"https://coingeek.com/3ac-founder-kyle-davies-tells-court-he-has-renounced-us-citizenship/","name":"coingeek.com","type":"other","credibility":3},{"url":"https://decrypt.co/150890/three-arrows-capital-co-founder-kyle-davies-rejects-us-court-jurisdiction","name":"decrypt.co","type":"other","credibility":3},{"url":"https://news.bitcoin.com/subpoena-evasion-3ac-asks-court-to-fine-kyle-davies-10000-daily-for-non-compliance/","name":"news.bitcoin.com","type":"other","credibility":3},{"url":"https://techcrunch.com/2023/09/29/three-arrows-capital-co-founder-zhu-arrested-in-singapore-airport-sentenced-four-months-in-prison/","name":"techcrunch.com","type":"other","credibility":3},{"url":"https://www.dlnews.com/articles/people-culture/3ac-co-founder-su-zhu-jailed-four-months-singapore/","name":"dlnews.com","type":"other","credibility":3},{"url":"https://www.blockhead.co/2024/03/20/kyle-davies-not-keen-on-singapore-jail-despite-3ac-co-founder-su-zhus-enjoyable-experience/","name":"blockhead.co","type":"other","credibility":3},{"url":"https://www.coindesk.com/policy/2024/03/20/3ac-co-founder-kyle-davies-says-he-wont-apologize-for-crypto-hedge-fund-going-bankrupt","name":"coindesk.com","type":"other","credibility":3},{"url":"https://www.ccn.com/news/three-arrows-zhu-arrested-davies-fugitive/","name":"ccn.com","type":"other","credibility":3},{"url":"https://www.coindesk.com/policy/2023/09/14/three-arrows-founders-hit-with-9-year-trading-ban-in-singapore","name":"coindesk.com","type":"other","credibility":3},{"url":"https://decrypt.co/156666/3acs-zhu-su-kyle-davies-slapped-with-9-year-finance-ban-by-singapore-monetary-authority","name":"decrypt.co","type":"other","credibility":3},{"url":"https://www.bloomberg.com/news/articles/2023-09-14/singapore-bans-zhu-davies-over-crypto-hedge-fund-three-arrows","name":"bloomberg.com","type":"other","credibility":3},{"url":"https://fintechnews.sg/78202/fintech/mas-slaps-9-year-ban-on-three-arrows-founders-for-flagrant-disregard-of-rules/","name":"fintechnews.sg","type":"other","credibility":3},{"url":"https://www.theblock.co/post/250928/singapore-regulator-issues-bans-against-three-arrows-capital-founders","name":"theblock.co","type":"other","credibility":3},{"url":"https://www.coindesk.com/business/2023/03/24/a-three-arrows-capital-founder-talks-about-his-new-crypto-bankruptcy-exchange","name":"coindesk.com","type":"other","credibility":3},{"url":"https://decrypt.co/138581/dubai-reprimands-three-arrows-capital-founders-new-exchange-opnx","name":"decrypt.co","type":"other","credibility":3},{"url":"https://www.coindesk.com/policy/2023/05/02/3ac-founders-opnx-exchange-formally-reprimanded-by-dubai-crypto-regulator","name":"coindesk.com","type":"other","credibility":3},{"url":"https://crypto.news/another-failed-crypto-venture-by-su-zhu-and-kyle-davies-opnx-is-shutting-down/","name":"crypto.news","type":"other","credibility":3},{"url":"https://www.coindesk.com/markets/2024/02/02/opnx-founder-su-zhu-says-shutdown-comes-because-ftx-estate-claims-reached-recovery","name":"coindesk.com","type":"other","credibility":3},{"url":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