• 3AC, a bankrupt hedge fund, has started two new businesses: OPNX and 3AC Ventures.
• OPNX has daily trading volumes of $34 million and the founders plan to use their cut to make users whole.
• Kyle Davies believes this will generate good karma for the disgraced hedge fund leaders.
The New Businesses of 3AC
After several months spent dodging subpoenas and making threads dripping with self-pity on Twitter, the founders of bankrupt hedge fund 3AC started two new businesses – a crypto exchange platform called OPNX and a new hedge fund called 3AC Ventures. The latter company’s online presence so far is nothing more than a boilerplate inviting interested investors to email them. However, OPNX has apparently been able to find investors willing to trust the founders’ pinky promise that nothing will go wrong this time. Currently, daily trading volumes on OPNX average $34 million – and the founders allegedly have big plans for their cut of the earnings.
3AC’s Plan to Repay Users
While refusing to show up to bankruptcy and liquidation proceedings, the two “serial entrepreneurs” have decided to make as many 3AC users whole on their own dime. Although this sounds quite heartwarming in theory, users will only be made whole if they hop on the OPNX train early according to bankrupt hedge fund owner and Stockholm Syndrome aficionado Kyle Davies. This plan was announced on Mario Nawfal’s Twitter Spaces Podcast by Davies himself.
Good Karma For Disgraced Leaders
According to Davies, he and Zhu hope that doing so will generate good karma for the disgraced hedge fund leaders who are now running these two new companies.
Requirements For Repayment
In order for users who lost money due to 3AC’s failure receive repayment from Zhu and Davies‘ earnings through their new companies, they must join OPNX early in order for it be valid.
Conclusion
The decision by Kyle Davies and Simon Zhu of 3AC Founders Go for Good Karma by Donating OPNX Earnings to Victims Who Stick Around demonstrates an attempt at restitution after long periods of evasion from being held responsible for their actions which lead them down a path of financial ruin for many user who trusted them with their investments initially.