OPNX token spikes 50% after Su Zhu unexpectedly posts a ‘gm’ on Twitter


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

On Dec. 1, Su 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.

How To Get Free Crypto  

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 CoinGecko data.

OX token price with a spike in the minutes after Su’s X post. Source: CoinGecko

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.

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.

Related: CoinFLEX creditors dissatisfied with restructuring to OPNX: Report

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.

Coinbase Banner  

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.

Magazine: This is your brain on crypto — Substance abuse grows among crypto traders

Go to Source
Author: Jesse Coghlan


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.