{"id":550193,"date":"2023-02-10T11:03:46","date_gmt":"2023-02-10T08:03:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/3ac-new-exchange-triggers-backlash-from-the-crypto-community-no-thank-you\/"},"modified":"2023-02-10T11:03:46","modified_gmt":"2023-02-10T08:03:46","slug":"3ac-new-exchange-triggers-backlash-from-the-crypto-community-no-thank-you","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/3ac-new-exchange-triggers-backlash-from-the-crypto-community-no-thank-you\/","title":{"rendered":"# 3AC new exchange triggers backlash from the crypto community \u2014 \u2018No, thank you\u2019"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a240a1bb8b28\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a240a1bb8b28\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/3ac-new-exchange-triggers-backlash-from-the-crypto-community-no-thank-you\/#%E2%80%9D_3AC_new_exchange_triggers_backlash_from_the_crypto_community_%E2%80%94_%E2%80%98No_thank_you_%E2%80%9C\" >&#8221; 3AC new exchange triggers backlash from the crypto community \u2014 \u2018No, thank you\u2019  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_3AC_new_exchange_triggers_backlash_from_the_crypto_community_%E2%80%94_%E2%80%98No_thank_you_%E2%80%9C\"><\/span>&#8221; 3AC new exchange triggers backlash from the crypto community \u2014 \u2018No, thank you\u2019  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4bbf85c5>The launch of the exchange project backed by the bankrupt hedge fund Three Arrows Capital (3AC) attracted a mob of angry community members who took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, expressing their dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointment with the state of the crypto space.\u00a0<\/p>\n<p>Open Exchange, a crypto exchange project that was initially proposed by 3AC and Coinflex, launched a website and opened a waitlist on Feb. 9. 3AC founder Zhu Su pointed out that the project is a way to atone for their past mistakes. However, many members of the community were enraged by the launch. <\/p>\n<p>One community member questioned the name of the exchange and suggested that it may lead to a scam. They tweeted: <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">&#8220;Open Exchange&#8221;<\/p>\n<p>Open to what? getting scammed?<\/p>\n<p>They lost their pride and money, but at least they haven&#8217;t lost their stupidity, clearly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/PeJhlKVKD8\">https:\/\/t.co\/PeJhlKVKD8<\/a><\/p>\n<p>\u2014 Thales (Tahless\u2019) || HXRO (\u2716\ufe0f,\u2716\ufe0f) (@ThalesHXRO) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ThalesHXRO\/status\/1623766607011934208?ref_src=twsrc%5Etfw\">February 9, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Another community member <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/beniduboss\/status\/1623758643102375936\">swore<\/a> to never trade in the exchange and bully the users of the exchange. &#8220;I don\u2019t care how good the fees are, how good the liquidation mechanism is, or how good the funding arbs will be,&#8221; they wrote. In addition, a Twitter user even wished harm upon those who will use the exchange.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/83e0b1ab-24ee-4846-a9f9-d015cb364963.png\"><figcaption style=\"text-align: center;\"><em>Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Some kept their reactions simple and just <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/kirb_e\/status\/1623753970589270018\">wrote<\/a> \u201cno, thank you\u201d to the announcement or <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/crofflehash\/status\/1623756526778482688\">described<\/a> it as April Fool&#8217;s Day joke that came early.\u00a0<\/p>\n<p>Meanwhile, not everyone is in opposition to the idea of an exchange that allows trading claims. A community member <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MelonBTC\/status\/1623757607650328576\">described<\/a> it as a \u201ckiller idea\u201d and said that those \u201ccrying in the comments\u201d will use the exchange to trade their claims and get liquidated again. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Investors seek to sell FTX, Celsius, BlockFi, Voyager claims<\/em><\/strong><\/p>\n<p>On Jan. 16, 3AC and Coinflex founders started gathering funds for the exchange project. The project announced that they were looking to raise $25 million to target claims against bankrupt firms like FTX, Celsius and Voyager. <\/p>\n<p>On Feb 4, BitMEX co-founder Arthur Hayes cited an anonymous source and said that the 3AC founders completed the raise. Hayes expressed frustration and said that the bull market must be starting. He tweeted: <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Little birdie told me <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/KyleLDavies?ref_src=twsrc%5Etfw\">@KyleLDavies<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/zhusu?ref_src=twsrc%5Etfw\">@zhusu<\/a> completed their raise. Must be the beginnings of a bull market if these muppets get money less than one year after they torched $18 billion on shitcoins. I ain\u2019t mad at ya, but homeboy needs his money back lift tickets be expensive<\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1621619143777853440?ref_src=twsrc%5Etfw\">February 3, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>TechCrunch founder Michael Arrington <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/arrington\/status\/1621903010531274752\">described<\/a> it as the &#8220;saddest bullshit&#8221; he&#8217;s heard in a long time. Meanwhile, Macro Financial executive Nik Bougalis <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nbougalis\/status\/1621915183542157312\">said<\/a> that 3AC founders raising new funds is disgraceful and indicates everything wrong with the space, saying that anyone who provides funds to the 3AC founders should be &#8220;treated as scammers.&#8221;\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/3ac-new-exchange-triggers-backlash-from-the-crypto-community-no-thank-you\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; 3AC new exchange triggers backlash from the crypto community \u2014 \u2018No, thank you\u2019 &#8220; The launch of the exchange project backed by the bankrupt hedge fund Three Arrows Capital (3AC) attracted a mob of angry community members who took to Twitter, expressing their disappointment with the state of the crypto space.\u00a0 Open Exchange, a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":550194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/fa519b0a-899e-4fcb-b0b3-f23add082417.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[4978,117,7058],"class_list":["post-550193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bankruptcy","tag-business","tag-community"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/550193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=550193"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/550193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/550194"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=550193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=550193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=550193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}