Zhu Su and Kyle Davies, the co-founders of OPNX, recently secured funding from Bahrain to further develop their blockchain-powered platform. The funding is set to propel the growth and expansion of OPNX, which aims to provide a more secure and streamlined system for managing and tracking supply chain processes. With this investment, OPNX is poised to revolutionize the logistics industry with its innovative technology, bringing unparalleled transparency and efficiency to the global supply chain.
Controversial Exchange Project, OPNX, Faces Backlash and Accusations of Funding from Bahrain’s Sovereign Wealth Fund
The launch of the exchange project, OPNX, earlier this week has garnered significant attention from the crypto community. However, it has also received a considerable amount of backlash, with many accusing the founders of being involved in dubious activities.
Recently, BitMEX’s Arthur Hayes tweeted alleging that the founders of OPNX, Zhu Su and Kyle Davies, had received a “lot of money” from the sovereign wealth fund of the Kingdom of Bahrain. He further warned traders to be aware of this fact and expressed his frustration over not receiving his own funds.
This isn’t the first time Hayes has expressed his concerns over the project. In February, he had hinted at the timing of the founders completing the fundraising for the project while also implying that the bull market was beginning.
In addition to Davies and Zhu, OPNX was also co-founded by executives of the troubled exchange CoinFLEX. The founders had earlier announced that they were looking to raise seed funding of $25 million to target claims against bankrupt firms such as FTX, Celsius, and Voyager.
However, their fundraising event received a considerable amount of criticism, with venture capitalist Michael Arrington calling it “the saddest bullshit” he’s heard in a long time.
Since its launch, OPNX’s liquidity has been subjected to ridicule by several community members, with many accusing the founders of being involved in scams. To add to its woes, the official Twitter handle of OPNX has been suspended.
While it’s still unclear what prompted the ban, it could be likely due to an influx of angry crypto users flagging Twitter Support with reports of “platform manipulation and spam.”
In conclusion, the controversy surrounding OPNX shows no signs of abating anytime soon. With allegations of dubious funding and accusations of scams, the project’s future remains uncertain. Nevertheless, we can only hope that the truth will eventually come to light, and justice will be served.