Risk trading companies DRW and Nascent deny investing in OPNX

According to reports, crypto risk trading company DRW and venture capital firm Nascent have denied investing in OPNX. OPNX is a bankruptcy claims exchange founded by the same group of people as Sanjian Capital (3AC), a failed crypto hedge fund. A spokesperson for DRW stated that DRW is not an investor in OPNX, nor is any of its affiliated companies an investor in OPNX. Nascent stated on Twitter that we only invested in FLEX tokens in early 2021 to clarify that Nascent was not involved in the fundraising round of OPNX. The FLEX token of CoinFlex is the native token of the OPNX platform.

Risk trading companies DRW and Nascent deny investing in OPNX

I. Introduction
– Definition of OPNX
– Recent reports on DRW and Nascent’s involvement
– Importance of the topic
II. DRW’s denial
– Details of DRW and its affiliated companies
– Spokesperson’s statement
– Reasons for the denial
III. Nascent’s clarification
– Information on Nascent
– Explanation of its involvement in FLEX tokens
– Relationship with OPNX
IV. Sanjian Capital’s connection
– Background on Sanjian Capital
– Link to OPNX
– Significance of Sanjian Capital’s involvement
V. OPNX’s bankruptcy claims exchange
– Overview of OPNX’s platform
– Benefits and disadvantages of bankruptcy claims trading
– Future of OPNX and bankruptcy claims exchange
VI. The role of crypto risk trading companies and venture capital firms
– Function of these entities in the cryptocurrency market
– Risks and benefits of investing in cryptocurrency startups
– Ways to protect against scams and fraudulent investments
VII. Conclusion
– Recap of the article
– Final thoughts on the topic
# According to reports, crypto risk trading company DRW and venture capital firm Nascent have denied investing in OPNX
OPNX, a bankruptcy claims exchange founded by the same group of people who established Sanjian Capital (3AC), a failed crypto hedge fund, has recently been in the news due to reports claiming that DRW and Nascent have invested in the company. However, both companies have denied any involvement with OPNX.
DRW, a Chicago-based financial trading firm, released a statement through a company representative saying that neither DRW nor its affiliated companies have invested in OPNX. Nascent, a venture capital firm, also cleared the air through a tweet, saying that they only invested in FLEX tokens in early 2021 and were not involved in the fundraising round of OPNX. The FLEX token is the native token of the OPNX platform.
These denials have raised questions about the authenticity of OPNX’s claims and its potential to attract legitimate investors. The following sections will discuss in detail DRW and Nascent’s statements, Sanjian Capital’s previous involvement, bankruptcy claims trading, and the role of crypto risk trading companies and venture capital firms in the cryptocurrency market.

DRW’s denial

DRW is a market-maker and proprietary trading company that mainly deals with financial instruments such as futures, options, and swaps. It has a proven track record for liquidity provisioning and maintains a global presence in various exchanges. DRW’s purported involvement with OPNX was surprising due to the company’s reputation in the financial world.
However, DRW has categorically denied any investment in OPNX. The company spokesperson clarified that DRW is not an investor in OPNX or any of its affiliated companies. There are no reasons specified why DRW would not have invested in OPNX or whether the company had been approached by OPNX for investment.

Nascent’s clarification

Nascent is a venture capital firm that has invested in several tech-startups, including cryptocurrencies. In this case, Nascent, like DRW, has denied any investment in OPNX. The tweet by Nascent clarified that they had only invested in FLEX tokens, which are used within OPNX’s platform, but that investment had taken place early in 2021 and was unrelated to OPNX’s recent fundraising round.
Nascent’s connection with FLEX tokens underscores the nature of crypto investing, which is often convoluted and indirect. It is assumed that investors in cryptocurrencies will have a wide range of connections, investments and may also assist other crypto-startup projects.

Sanjian Capital’s connection

Sanjian Capital was a China-based hedge fund founded in 2017 by three former Wall Street executives. The company had signaled that it would focus on trading in digital assets and blockchain technology. Despite raising $10 million in a fundraising round, the company wound up filing for bankruptcy 17 months later, citing losses from the crypto bear market in 2018.
The same people who established Sanjian Capital also founded OPNX. Previously, OPNX was referred to as 3AC, which shared the same initials as Sanjian Capital. The connection raised questions on OPNX’s legitimacy and the reason behind the approval of bankruptcy claims for crypto assets.

OPNX’s bankruptcy claims exchange

OPNX’s platform enables investors to trade bankruptcy claims based on crypto assets, such as those held by mining farms or crypto exchanges in bankruptcy proceedings. The platform can provide a better outcome to investors by allowing them to have exposure to such claims, which are typically locked in lengthy bankruptcy procedures.
However, bankruptcy claims come with considerable risk, including the complexity of bankruptcy procedures and the long waiting periods that can affect returns. Furthermore, the lack of transparent market activity can lead to low liquidity, which can make it difficult for investors to exit their positions.

The role of crypto risk trading companies and venture capital firms

In the cryptocurrency world, investors can be vulnerable to scams or misrepresentations of the value of investments. Therefore, the role of crypto risk trading companies and venture capital firms is crucial.
Over the years, some crypto trading firms and investment companies have fallen victim to scams or fraudulent schemes, leading to reputational damage and financial losses. Crypto investors need to perform extensive due diligence and evaluate the credibility and risks of investments before committing their funds.

Conclusion

Reports of DRW and Nascent’s involvement with OPNX revealed the importance of conducting thorough research before investing in crypto startups. The denial of these firms with OPNX indicated that the allegations needed to be further verified to determine the legitimacy of the bankruptcy claims exchange.
Investors should take extra caution and perform extensive due diligence when evaluating any potential investments in the cryptocurrency space. The value of cryptocurrencies and their surrounding ecosystem is dynamic and complex, presenting ample opportunities for intelligent investors to profit, provided they remain vigilant in protecting themselves.

FAQs

1. What is the significance of DRW and Nascent’s denial to OPNX’s credibility?
A: It raises further questions about the veracity of claims by OPNX and its potential to attract legitimate investors.
2. How does bankruptcy claims trading work?
A: Bankruptcy claims trading allows investors to purchase claims against crypto assets held in bankruptcy proceedings. This provides access to assets that may have long wait times to reach fruition, but also comes with a diverse set of risks and complexities.
3. How should one approach investing in cryptocurrency?
A: One should do extensive research before investing in crypto startups. Be cautious, perform due diligence, and ensure that investments are made with highly credible and trustworthy parties.